Moderna, Racing for Profits, Keeps COVID Vaccine Out of Reach of Poor

A nurse carries out trials of a COVID-19 vaccine at the Desmond Tutu HIV Foundation Youth Center in Masiphumelele, South Africa, Dec. 4, 2020.

Thailand and Colombia are paying a premium. Botswana’s doses are late. Tunisia could not get in touch with Moderna. Even so, the Biden administration has grown increasingly frustrated with Moderna for not making its vaccine more available to poorer countries, two senior administration officials said. The administration has been pressing Moderna executives to increase production at U.S. plants and to license the company’s technology to overseas manufacturers that could make doses for foreign markets.Moderna is now scrambling to defend itself against accusations that it is putting a priority on the rich.

He said that Moderna tried and failed last year to get governments to kick in money to expand the company’s scant production capacity and that the company decides how much to charge based on factors including how many doses are ordered and how wealthy a country is. Scientists at the National Institutes of Health worked with the company to develop the vaccine. The United States kicked in $1.3 billion for clinical trials and other research. And in August 2020, the government agreed to preorder $1.5 billion of the vaccine, guaranteeing that Moderna would have a market for what was an unproven product.

Pfizer, by comparison, said it had agreed to sell its vaccine at discounted prices to 12 upper-middle-income countries, five lower-middle-income governments and one poor country, Rwanda. In some cases, Moderna has offered to provide poorer countries the vaccine at relatively low prices, but only after it has fulfilled other countries’ orders.

Moderna’s market value has nearly tripled this year to more than $120 billion. Two of its founders, as well as an early investor, this month made Forbes magazine’s list of the 400 richest people in the United States.

Why is that surprising? Rich countries would be happier if there we’re less poorer countries out there! Less money they’d have to pretend to donate!🤦‍♀️🤮

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