Trials are being conducted around the world to find an effective coronavirus vaccine, and as researchers are deep into studies, the question has been raised if vaccine companies should profit off developing the vaccine.
That very question has been raised to Pfizer CEO Albert Bourla, who openly disagrees with the notion that vaccine companies shouldn't be profiting off the coronavirus vaccine. Bourla spoke to Barrons this past Tuesday, and said, "I think it's very wrong. The private sector found the solution for diagnostics ... and is along [the] way to find more solutions for therapeutics and vaccines." Pfizer's coronavirus vaccine entered Phase 3 of testing this week, and if approved for use, it will send 100 million doses to the U.S. government.
The U.S. government is expected to pay $1.95 billion for these doses, which equates to around $19.50 per shot. At the moment, there aren't any solid numbers for how much profit vaccine companies will make when a coronavirus is sold, but according to Bourla, "During the pandemic, we just went with the price that is the very low-end of whatever exists. It's fractions of what vaccines of this high technology are sold [for] in the U.S."
Additionally, last week Rep. Jan Schakowsky-Ill requested that vaccine companies receive government assistance for developing a coronavirus vaccine, of which they would sell at cost. However, it should be noted that Pfizer hasn't received any government assistance to develop its vaccine.
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