With the COVID-19 pandemic, there are many situations where the law of supply and demand applies. Although there are many pharmaceutical companies today that provide the vaccine for COVID-19, there is information to suggest that Pfizer and Moderna have raised the prices of the vaccines.
Find out what the rise of each vaccine is, according to an investigation by the Financial Times.
A dose of Pfizer costs €19.50 and Moderna now costs €21.48
According to the Financial Times (FT), Pfizer and Moderna have increased the price of their COVID-19 vaccines. According to the information, in recent supply contracts with the European Union (EU), the Pfizer vaccine increased by 25% and Moderna by 13%.
The price of a dose of Pfizer's vaccine has risen from 15.50 euros currently to 19.50 euros, according to parts of the contract obtained by the Financial Times, while the price of a dose of Moderna's vaccine has risen to 21 and 48 euros. ($25.50), compared to the previous €19 ($22.60) stipulated in the first supply agreement.
Despite this increase, the price of a vaccine dose in Moderna will be higher, more specifically 24 euros ($28.50), according to the Financial Times, but the value was eventually adjusted due to the increase in demand.
Due to the demand, drug companies are increasing their profits as requests from many countries grow for a possible third dose against COVID-19 in the winter.
Pharmaceutical consultants noted in the article that Pfizer - which shares profits with Germany's BioNTech - is expected to make $56 billion (47.2 billion euros) from selling its vaccine by 2022. Moderna is expected to generate nearly $30 billion (25.2 billion euros) billion euros).
As for AstraZeneca, which offers its vaccine at cost indefinitely to developing countries, the newspaper reports profits in the order of 15 billion dollars (12.6 billion euros).
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