Falling Off the “COVID Cliff” – The Collapse of Big Pharma Has Begun as 30% of Rural Hospitals in America Facing Closure
Comments by Brian Shilhavy
Editor, Health Impact News
The Big Pharma financial bubble that was created in 2020 during the Trump Administration, which pumped $trillions into Big Pharma for COVID, has burst.
It is being referred to in the corporate media as falling off of the “COVID Cliff.”
Those falling the deepest are the ones who greatly benefited from the COVID scam, as reflected in the 2023 first quarter financial reports of drug makers.
Leading the collapse are the COVID mRNA “vaccine” makers, as sales for BioNTech decreased 80%, Moderna sales decreased 69%, and Pfizer sales decreased 29% during the first 3 months of 2023.
Pfizer, Moderna among many biopharma giants to post Q1 sales declines
Biopharma companies know well the pain of a patent cliff. But how about a COVID cliff?
With demand for vaccines and other COVID-19 products plummeting, drugmakers who thrived during the pandemic have seen their sales decline significantly lately.
The effects of the COVID cliff were apparent over the last few weeks as companies reported their first-quarter results. Of 20 leading biopharma companies, just six saw their revenues increase in the first quarter of 2023 compared with the same period last year.
Taking the biggest hits in the quarter were the three companies that emerged with the most successful COVID vaccines. BioNTech and Moderna posted whopping revenue decreases of 80% and 69%, respectively, while Pfizer chalked up a sales decline of 29%. (Full article.)
In addition to the pharmaceutical drug cartel, 646 rural hospitals are at risk of closure due to financial issues, comprising around 30 percent of all rural hospitals in the U.S., according to the Center for Healthcare Quality & Payment Reform.
There are 646 rural hospitals at risk of closure due to financial issues, comprising around 30 percent of all rural hospitals in the U.S., according to the Center for Healthcare Quality & Payment Reform.
The hospitals face losses on patient services as health plans aren’t paying enough to cover the cost of care delivery. The losses will likely increase as inflation and workforce shortages persist, according to the report, which was released in April. While rural hospitals are receiving some support through grants, local tax revenues or other profits, they still have low financial reserves and remain at risk.
More than half the states in the U.S. report 25 percent or more of their rural hospitals are at risk of closure, and more than 200 hospitals nationwide are at immediate risk of closing. (Source.)
Normally all these financial losses in the U.S. medical system would have crashed the economy by now, but of course the U.S. Stock Market ponzi casino is pumping money into the current financial bubble: Big Tech. See:
Expectations of an Imminent Big Tech Crash Bringing Down the U.S. Economy is Expanding
The crash of the U.S. economy and the following “Great Reset” is all but certain now, with the only question remaining being: When?
It could come soon if the U.S. does not remove the current debt ceiling and begins to default on its financial obligations.
But even if a last minute deal is struck to avoid a U.S. sovereign debt default, that will not stop a major collapse of many U.S. banks as the liquidity crisis will increase.
See (both of these are probably behind paywalls):
Why The End Of The Debt Ceiling Crisis Triggers The Next $1.2 Trillion Banking Crisis
A debt-ceiling deal will spark a new worry: Who will buy the deluge of Treasury bills?
No more “kicking the can down the road.” We just fell off the COVID cliff, and the rest of the economy will follow.