Pfizer has reportedly raised the price of its Covid vaccine dose by a quarter, with Moderna also ramping up the price in its latest deal with the European Union. The two are making tens of billions of dollars in pandemic profits.
According to the Financial Times, which has seen contracts between the two pharmaceutical companies and the EU, Pfizer’s latest price for one vaccine dose was €19.50, or around $23 – up by four euro from the previous unit price of €15.50 euro.
Meanwhile, Moderna’s latest price is around €21.50 ($25.50) per dose, up from the previous price of €19 ($22.60). Despite this, the Moderna price is still lower than previously expected – $28.50 – because of the EU purchasing more doses.
Pfizer and Moderna – which earn a profit from the vaccines, unlike AstraZeneca, which is sold at cost – have pulled in tens of billions of dollars from the vaccines, with Pfizer forecasting $33.5 billion in revenue from its doses in this year alone. The forecast is up $7.5 billion from its previous prediction in the last quarter.
Moderna, though behind Pfizer in sales, is forecasting $19.2 billion in Covid-19 vaccine revenue for 2021.
Russia’s Sputnik V vaccine still hasn’t been approved by the European Medicines Agency (EMA) despite having been registered in 69 of the world’s countries to date, including EU members Hungary and Slovakia.