Pfizer and Moderna made billions of dollars selling vaccines to governments around the world as the Coronavirus Pandemic ravaged nations throughout 2020 and 2021. Based on recent reports, however, they're about to make billions more.
Moderna developed a COVID-19 vaccine with $10 billion in taxpayer funding from the U.S. and sold $18 billion of vaccines in 2021 according to The Daily Wire. Likewise, competitor Pfizer is expecting to make $32 billion in 2022 with Moderna forecasting another $19 billion.
Despite Pfizer moving to increase prices last year and igniting a firestorm from U.S. lawmakers, Moderna is now attempting the same with The Wall Street Journal reporting the pharma giant wants to hike the price per dose about 400 percent from approximately $26 per shot to between $110 and $130.
Moderna CEO Stephane Bance claimed, “I would think this type of pricing is consistent with the value,” according to the Daily Wire. Initially, the cost of the subsidized mRNA treatment was between $15-16 per dose increasing to $26 in 2022.
Notably, in the U.S. Americans are able to take the mRNA vaccine free of charge. It is entirely taxpayer-funded from beginning to end.
According to Statista, 80.9% of Americans have had at least one shot of the COVID vaccine. Whereas only 69.1% are “fully vaccinated.” This leaves just under 20 percent of Americans who have never taken any form of the vaccine and at this point are unlikely to.
These 20 percent of Americans are now set to pay a 400% price increase for vaccines if they would like to take them, however unlikely that may be.
Americans who have taken the booster shot also sits at 15.4%, suggesting that some 84.6% of Americans are unlikely to take another booster given that they've been readily available at no cost for over a year.
So not only are the big pharma companies already making astronomical amounts of money in sales for a product that was already taxpayer-subsidized, they now want even more taxpayer money from a government that is almost certain to give it to them.
In 2022, Senator Elizabeth Warren (D-MA) and then-Congressman Peter Welch (D-VT) called Pfizer's increase “pure and deadly greed” and “unseemly profiteering.”
“We urge you to back off from your proposed price increases and ensure COVID-19 vaccines are reasonably priced and accessible to people across the United States,” they wrote.
Adding, “Thanks to billions of federal dollars used to support production and delivery of Pfizer’s vaccine product, Pfizer’s COVID-19 vaccine is currently free for patients in the United States.”