Moderna considers pricing COVID-19 vaccine at $110-$130
For many, however, the commercial prices set by Moderna and Pfizer represent a significant markup, quadrupling the price the U.S. government pays for the vaccines
January 10, 2023 10:11pm
Updated: January 11, 2023 4:58am
Moderna is considering pricing its COVID-19 vaccine at $110 to $130 in the United States when its government contracting ends and it begins the commercial distribution of the shots, the company’s Chief Executive Officer Stephane Bancel told the Wall Street Journal on Monday.
"I would think this type of pricing is consistent with the value," Bancel said, adding that Moderna is already in discussions with hospitals and pharmacies to distribute the vaccine.
Moderna’s vaccine was previously estimated to have a commercial price ranging from $64 to $100 per shot when the current purchase program with the U.S. government expires this year.
Moderna’s rival, Pfizer, announced in October that it plans to sell its COVID-19 vaccines to the public at the same price range of $110 to $130 per dose. According to analysts, the new pricing range could add around $2.5 billion to $3 billion in annual revenue for the pharmaceutical company.
Until now, the COVID-19 vaccines from Moderna and Pfizer have been purchased by the U.S. government and have been offered to American citizens for free.
Under the current contract with Moderna, the U.S. government pays about $26 per dose of the company’s updated booster shots and about $30 per dose for Pfizer-BioNTech’s vaccine.
However, as soon as the program expires and the government stops distributing vaccines, Americans will have to pay for COVID tests, treatments, and vaccines through premiums and out-of-pocket costs, according to Axios.
For many, however, the commercial prices set by Moderna and Pfizer represent a significant markup, quadrupling the price the U.S. government pays for the vaccines.