Tuesday, February 7, 2023

Moderna plans to raise the price of its COVID-19 vaccine by 500%: “It’s worth it”

Moderna is considering increasing the price of its COVID-19 vaccine and multiplying it by 4 or 5 times its present cost.

The American biotechnology company sets a price between $110 (about 102 euros at current exchange rates) and $130 (121 euro) for each dose in the US, which would mean an increase of more than 400% or exactly 500%, respectively, compared to the $26 (24 euros) per dose of the last contract signed in July 2022, reports wall street journal ,WSJ,

“I think this kind of price is commensurate with the value” Moderna’s CEO Stéphane Bancel announced the 9th day on Monday in an interview with the media.

If confirmed, the adjustment would take place in a context in which, on the one hand, the acquisition of coronavirus vaccines would move from government contract to commercial distribution in the United States.

Young people, women, immigrants and low-income people most affected by the pandemic: how Spain is hit by the COVID-19 crisis

The federal government, which until now has bought supplements and made them available to the population for free—as in Spain—has announced that companies will have to switch to standard commercial distribution when supplies are guaranteed by government contracts.

for other, This growth will be comparable to that put up by one of its main competitors, Pfizer.Which furthered his plan to push the price to $110 or $130 in October.

The pharmaceutical company, which was also American, received harsh criticism for price gouging, Described as “pure and deadly greed” and the use of “unwarranted speculation” by 2 Democratic senators, Elizabeth Warren and Peter Welch, collects Ars Technica,

In a letter sent last month to Pfizer Chairman Albert Bourla, they demanded, “We urge you to refrain from your proposed price hike and ensure that COVID-19 vaccines are affordable and accessible to people across the United States.” “

If you had invested 1,000 euros 3 years ago in the pharmaceutical companies that are leading the race for a coronavirus vaccine today, how much money would you have made?

The cost of the COVID-19 vaccine is rising both in the US (the cost of a basic dose between $15 and 16) and the EU (15.50 euros before August 2021). has become an important source of income to the companies that sell them.

In its first year on the market since its emergency authorisation, sales exceeded 53,000 million euros. Pfizer and Moderna, in particular, entered 9 out of every 10 euros invoiced in 2021 from the sale of these injections.

A day before Moderna learned of a possible price hike, the biotechnology company announced that its sales from coronavirus vaccines in 2022 are set to reach nearly $18.4 billion (over 17.1 billion euros). This figure is expected to drop to at least $5,000 million (around 4,700 million euros) in 2023, despite an increase in prices, publishes WSJ,

Nation World News Desk
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