Pfizer, Moderna raised COVID-19 vaccine prices for EU: report

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8/2/2021 1:35:00 PM

Pfizer and Moderna hiked their COVID-19 vaccine prices in the EU after AstraZeneca lost popularity there, report says

Business Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.

Pfizer and Moderna raised the prices on their coronavirus shots in their latest contract negotiations with the European Union, theFinancial Times reported.One official close to the negotiations told the FT that Pfizer and Moderna had used the"usual pharma rhetoric" to increase the price. The companies essentially said that"vaccines work so they increased the 'value,'" the source said.

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According to portions of contracts seen by the FT, Pfizer will now charge 19.50 euros ($23) a shot — up from the previous price of 15.50 euros ($18.40).Moderna, meanwhile, will now charge 25.50 euros ($30.30) per shot, up from 19 euros ($22.60), people familiar with the matter told the FT. Moderna's final price was actually lower than previously agreed since the EU decided to up its order, the FT reported. The original amount that was agreed upon was 28.50 euros ($33.90) per shot, an official close to the negotiations told the FT. 

Neither Pfizer nor Moderna immediately responded to Insider's request for comment on the new EU vaccine contracts. Read more: Business Insider »

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