Pharmaceutical companies say they would sell coronavirus vaccine at a profit
Share article:
Share article:

Pharmaceutical companies say they would sell coronavirus vaccine at a profit

Credit: Belga

Several major pharmaceutical companies on Tuesday said they would sell a potential coronavirus vaccine at a profit.

Various companies have received subsidies of hundreds of millions of dollars from the US government or other states, but these agreements are not always accompanied by clauses capping the final price of the doses.

US companies Pfizer, Merck and Moderna all told US Congress that they would not sell their potential coronavirus vaccines at cost price. Conversely, Johnson & Johnson and AstraZeneca have committed to initially sell their vaccines at no profit.

Related Articles

 

“We will not sell at cost,” said Moderna President Stephen Hoge. The biotech company has developed one of the most advanced experimental vaccines, with large-scale Phase 3 trials scheduled to begin next week on 30,000 volunteers. It has received $483 million in U.S. public money to fund research and development, but does not have a supply contract, Hoge said.

Merck will not have any vaccine ready until 2021 at the earliest, and has not signed a supply contract with Washington.

“These are extraordinary times and our pricing will reflect that,” said John Young of Pfizer. Young did not specify how, but said that the price would take into account “the current global health emergency.”

AstraZeneca, already in Phase 3 trials, has signed a $1.2 billion contract with the U.S. government, which includes the delivery of 300 million doses at cost. The European Union signed a similar contract in June.

Johnson & Johnson, also funded by the White House’s $456 million Operation Warp Speed, separately stated that the price of more than a billion doses would be without profit during the emergency phase of the pandemic.

The Brussels Times

Latest news

Flanders introduces ‘invisible’ speed cameras
New digital speed cameras that are essentially invisible to the road user are being introduced on various roads and motorways in Flanders, Flemish ...
Warnings issued for slippery roads across Belgium
Drivers have been asked to watch out for slippery roads from Saturday afternoon until Sunday evening, as snow and cold temperatures are expected ...
Testing rules following high-risk contact eased for vaccinated people
The coronavirus testing policy following a high-risk contact has been eased, meaning a vaccinated person who was in contact with an infected person ...
New measures announced for Belgian schools
Stricter rules are being implemented across a variety of sectors in Belgium to curb the rising number of infections and limit the damage as a result ...
Majority of booster doses should be administered by March 2022
Invitations will be sent out in the following days for the general population in Belgium to receive a coronavirus booster vaccine, and most adults ...
Belgium adopts national plan to combat gender-based violence
Belgium has adopted a National Action plan for the Fight against Gender-Based Violence, which includes more than 200 measures and unites all levels ...
Antwerp cancels Christmas market and New Year’s Eve fireworks
The city of Antwerp has joined other cities including Leuven and Ghent by announcing it is cancelling this year's Christmas market, the end-of-year ...
Pharmaceutical companies looking into vaccines against new variant
Pharmaceutical companies have sprung into action to look into vaccine protection against the new coronavirus variant first detected in South Africa, ...
Belgium imposes entry ban on travellers from southern Africa
Belgium is introducing an entry ban for travellers from several countries in the south of Africa following concerns about a new variant (B.1.1.529) ...
What Ursula did next
BRUSSELS BEHIND THE SCENES • Weekly analysis and untold stories
Nightclub closures, limiting contacts: These rules come into force today
Just over one week after its last meeting, Belgium's Consultative Committee on Friday once again announced a set of new measures to curb the rising ...
Almost 3,500 Covid-19 patients in hospitals as new cases continue to skyrocket
The number of new coronavirus cases in Belgium is continuing to rise, and with it the number of Covid-19 patients who are hospitalised as a result of ...