Pfizer and Moderna raise prices for EU Covid vaccine

Pharmaceutical industry updates

Pfizer has raised the price of its Covid-19 vaccine by more than a quarter and Modern by more than a tenth in recent EU supply contracts as Europe has fought supply disruptions and concerns over side effects from rival blows.

The groups are set to generate tens of billions of dollars in revenue this year as they sign new agreements with countries anxious to secure supplies for potential reinforcement strikes in the face of the spread of the highly infectious Delta variant.

Business terms, hit this year for a total of 2.1 billion hits by 2023, have been renegotiated after the Phase 3 trial data show that the two companies’ “mRNA” vaccines they had higher effectiveness rates than the cheaper blows developed by Oxford / AstraZeneca and Johnson & Johnson.

The new price for a Pfizer strike was € 19.50 versus € 15.50 earlier, according to parts of the contracts seen by the Financial Times.

The price of a Modern jab was $ 25.50 a dose, the contracts show, from what people familiar with the deal said it was about € 19 ($ 22.60) in the first contract agreement, but less than a $ 28.50 previously accepted because the order had grown, according to an official close to the negotiations.

The official said the companies had exploited their market power and deployed the “usual pharmaceutical rhetoric… Vaccines work that way they have increased” value. ”

Pfizer last week lifted its annual guide vaccine revenue from nearly a third to $ 33.5 billion, after the hit sale helped nearly double sales in the second quarter.

Executive director Albert Bourla said prices for higher-income countries were “comparable,” with middle-income countries paying about half and lower-income countries paying costs.

Pfizer, which shares profits with its German partner BioNTech, expects prices to rise after the pandemic is over.

The gap between mRNA vaccine producers and their rivals has also been widened next year, according to forecasts compiled for FT by Airfinity.

Life sciences consultancy predicts Pfizer’s hit sales will reach $ 56 billion with Moderna reaching $ 30 billion, as they dominate high-income markets.

Modern Covid vaccine is their first product on the market © Jens Schlueter / Getty

The sale of the jab made by Oxford / AstraZeneca, which has a low cost and is the largest vaccine supplied to low-income countries, is expected to reach $ 15 billion next year.

The European Union’s contracts were concluded at a complex time during the implementation of the block’s vaccines, as they are facing supply problems from AstraZeneca and J&J while health authorities are studying a suspected link between his strokes and rare blood clots.

Brussels was too critical struggle by Austrian-led member states accusing the European Commission of distributing “unfair” vaccines, arguing that the EU system had left some countries short of supplies.

Officials said the commission and EU governments had agreed to pay a higher price to ensure supplies were provided by European manufacturing plants. The new Pfizer price is the same as that agreed earlier in the year on an advance of Dose 10m, officials say.

Bar chart of the number of strokes expected to be sold in 2022 by income band (bn) showing Most of the doses were purchased from high-income countries

An official said the staff working for Moderna was particularly “arrogant and arrogant” in their dealings with the commission, highlighting the lack of previous experience in government affairs.

Modern, whose Covid vaccine is its first commercially approved product, did not respond to a request for comment on details of its EU prices, but indicated in previous disclosures that the volume agreements further small ones would be made at higher prices. He reiterated that it aims to provide effective and accessible vaccines to “all populations”.

In FT reported last year that Modern had initially asked buyers including the EU a price of at least two dollars to high figures per course.

The commission said Brussels had reserved the right for an additional dose of 1.8 billion Pfizer vaccines “to be ready if reinforcement shots are needed and we need additional vaccines in the context of variants”. Pfizer declined to comment on the prices, citing confidentiality.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *