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Vaccine price hike: Moderna and Pfizer forecast $86 billion in sales next year

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Pfizer’s vaccine price will rise from 15.5 euros to 19.5 euros, and Moderna’s from 19 euros to 21.5 euros, the Financial Times reported on Sunday.

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U.S. pharmaceutical companies Pfizer and Moderna have raised the price of Covid-19 vaccines supplied to the European Union. Since the spread of the delta-mutant coronavirus is expected to lead to an increase in the need for booster shots, vaccines with a strong preventative effect will be in demand.

As reported by the Financial Times (FT) on the 1st (local time), Pfizer recently raised the price of the COVID-19 vaccine by more than 25%. Moderna increased its price by more than 10% as well.

Pfizer and Moderna’s mRNA-produced vaccines are relatively inexpensive, but have greater preventive effects in phase 3 clinical trials than AstraZeneca’s (AZ) and Janssen’s products, which are associated with thrombosis.

A Moderna official explained, “The price has increased due to the effectiveness of the vaccine.”

However, it appears that both companies will not escape criticism for attempting to generate astronomical sales with COVID-19 vaccines.

According to the FT’s own statistics, the sales gap between mRNA-based vaccines like Pfizer and Moderna and vaccines produced by other traditional methods is widening next year, with Pfizer’s and Moderna’s vaccine sales reaching $56 billion and $30 billion are expected to increase. AZ, the largest supplier of vaccines to low-income countries, is expected to reach $15 billion in sales next year.

Even though the United States and the World Health Organization (WHO) are pushing for an intellectual property exemption for Covid-19 vaccines, vaccine manufacturers are actively opposing it, citing reduced profits.

According to a report released late last month by People’s Vaccine Alliance (PVA), a vaccine alliance made up of 70 charities including Oxfam, the cost of vaccination would be five times less if Big Pharma did not monopolize the COVID-19 vaccine.

Approximately 90% of Pfizer and Moderna vaccines are sold to wealthy countries, which is 24 times the cost of production.

A vaccine developed by Moderna and Pfizer can be fabricated for as little as $1.20 per dose, according to the group.

For MetaNews.

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