Moderna's CEO To Appear Before Senate On Quadrupling COVID-19 Vaccine Prices
- Moderna Inc's (NASDAQ: MRNA) CEO, Stéphane Bancel, will testify next month on its plans to raise the price of its COVID-19 vaccine in front of the Senate.
- In January, Senator Bernie Sanders had written to Bancel to refrain from shooting up the prices of the COVID-19 vaccine after Moderna said it was considering pricing its vaccine at $110 to $130 per dose in the U.S. amid a shift to commercial distribution, writes Reuters.
- Moderna has said that insured people could avail of the vaccine at no cost at their doctor's office or local pharmacies once ongoing Covid-19 emergency declarations end on May 11.
- Moderna added that uninsured patients could buy the vaccine through Moderna's patient assistance program at no cost.
- Sanders, chairman of the Senate's Health, Education, Labor, and Pensions Committee, has railed against high drug prices and backed Medicare-for-all.
- His chairmanship of the HELP committee could put drug companies in his crosshairs.
- In the meantime, The European Medicines Agency (EMA) expects COVID vaccination campaigns to be conducted annually, Reuters reported
- Though the COVID-causing virus is not yet behaving like a seasonal virus involved in winter waves in temperate climates, the EMA's head of health threats and vaccines strategy, Marco Cavaleri, told a news briefing that "this might be the direction it will be going."
- Price Action: MRNA shares closed at $177.03 on Wednesday.
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