Tuesday, January 10, 2023

Vaccine Greed


Pharmaceutical giant Moderna faced angry backlash on Tuesday following the CEO's announcement that the firm is considering pricing its Covid-19 vaccine somewhere between $100 and $130 per dose in the United States. Stephane Bancel, Moderna's billionaire CEO, defended the proposed price range in an interview on the sidelines of the J.P. Morgan Healthcare Conference in San Francisco, telling The Wall Street Journal that he believes "this type of pricing is consistent with the value" of the vaccine.

The upper end of that range, according to the People's Vaccine Alliance (PVA), would represent a 4,000% markup above the cost of manufacturing the shot, which experts have pegged at roughly $2.85 per dose.

"The sheer greed is obscene," said PVA policy co-lead Julia Kosgei. "This vaccine isn't just Moderna's, it was developed in collaboration with a government agency based on decades of publicly-funded research," Kosgei said. "It is the people's vaccine—and it should be available and affordable for everyone, everywhere." In 2020, Moderna admitted that 100% of the funding for its vaccine development program came from the federal government.

The Kaiser Family Foundation (KFF) warned in a recent policy brief that the commercial price of coronavirus shots "could discourage vaccination."

"The suggested average price for Covid-19 vaccines after commercialization ($96 to $115 per dose) is significantly higher than the commercial price for the annual flu vaccine ($18 to 28 per dose), and could be a cost barrier for the uninsured and underinsured, who have no guaranteed mechanism for receiving COVID-19 (or any) vaccines once federal supplies are depleted."

'The Sheer Greed Is Obscene': Moderna Plans 4,000% Markup for Covid Vaccine (commondreams.org)

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