Governments and international organizations procuring vaccines are looking to hedge their bets and buy doses even before the vaccines are proven effective.
Michael Burgess (R-Texas) also noted in an email that vaccines have been made affordable in the past and that “clearly, Congress has thought about the cost” of developing a vaccine for Covid-19.Īt least two vaccine candidates, from Pfizer and Moderna, are expected to enter the final phase of clinical trials this month, and one from AstraZeneca has already entered late-stage trials overseas. “I have a hard time seeing how some companies can offer premium pricing unless one is way better at protecting people,” he said, noting the vaccine space has not been an attractive investment in recent years. by January.īiotech investor Brad Loncar said these large companies are not working on Covid-19 vaccines to boost their bottom lines as much as to be at the forefront of trying to solve a once-in-a-generation humanitarian problem.Īnd if - as many scientists hope and expect - several vaccines will be deployed to fight the pandemic, market forces will prevail to drive down prices, Loncar said. The goal is to deliver 300 million vaccine doses for the U.S. government so far has invested nearly $4 billion in six vaccines through the government’s Biomedical Advanced Research and Development Authority, or BARDA, and more recently via Operation Warp Speed, a special government program set up to manage the race for treatments and vaccines. Industry watchers on and off the Hill are asking whether the “nonprofit” vaccine pledge from some big companies - and a related promise from smaller companies to make sure it’s affordable around the world - will prove to be an empty promise from companies already struggling to earn the public’s trust after years of rising prices. If the “no profit” pledge had already raised questions among policymakers, the fact that one major company, Pfizer - which is not among the U.S.-government financed firms - has said it does expect to make money on its vaccine is only fueling the doubts. His brief statement didn’t specifically address the nonprofit claim. In response to the white paper, Senate HELP Chairman Lamar Alexander (R-Tenn.) also called on Democrats and Republicans to work together on accelerating the development and distribution of vaccines.
#VACCINE PRODUCTION COMPANIES FULL#
“If the federal government does not directly purchase enough COVID-19 vaccines for the full population, Congress must act to ensure that all individuals will have access to eventual COVID-19 vaccines free of charge,” Senate HELP ranking member Patty Murray (D-Wash.), Senate Minority Leader Chuck Schumer and other Senate Democrats wrote in a white paper. Several prominent Democrats on Monday outlined a new framework to ensure profits are modest, government costs are manageable - and Americans themselves won’t have to pay out of pocket for vaccines, whether or not they have health insurance. Any profit should be “reasonable” - and government should be able to verify that, she added. Tina Smith (D-Minn.) said in a phone interview. “I’m not saying don’t have any interest in protecting public health, but their business is about maximizing their returns for investors,” Sen. Other members of Congress want to restrict profits, especially when vaccines are developed and manufactured with government funds. “How has that cost been determined? For how long will it be available? Is this just a clever marketing strategy?” added Doggett, who complained it’s hard to get information on coronavirus drugs and vaccines because the “Trump administration that’s dominated by former pharmaceutical executives, won’t tell.” Lloyd Doggett (D-Texas), a leading critic of the industry in Congress, told POLITICO in an email. “A drug company’s claim that it’s providing a vaccine at cost should be viewed with the same skepticism as that by a used car salesperson,” Rep. and abroad, may have to spend to purchase millions, if not billions, of doses to halt the pandemic, on top of the spending on research and production.
Lawmakers say they don’t know how the coronavirus vaccines will be priced, or how much money governments, in the U.S.
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