The Strategist

Moderna, Pfizer raise prices for COVID-19 vaccines

08/02/2021 - 03:33

US pharmaceutical giants Pfizer and Moderna are raising the prices of their coronavirus vaccines for EU countries, reports the Financial Times (FT) citing supply contracts.

U.S. Secretary of Defense
U.S. Secretary of Defense
According to the newspaper, Pfizer has upped the price of its vaccine by over 25%: a dose now costs €19.50 versus €15.5 previously. 

As for Moderna, the manufacturer has increased the price by more than 10%: in the latest contracts for supply to the European Union, the price per dose of the vaccine is $25.50. In the first procurement deal - according to the newspaper's sources - one dose cost around $22.60.

The deals were renegotiated after Phase 3 trial data showed that Pfizer and Moderna's mRNA-based vaccines were more effective than cheaper vaccines developed by AstraZeneca and Johnson & Johnson.

The paper notes that the companies expect to make "tens of billions of dollars" in profits in 2021 as buying countries seek to secure supplies amid the spread of the more infectious delta strain.