| WASHINGTON, DC — It’s been a banner day for the new face of drug corporation greed, the Boston biotech company Moderna. First, the drug company admitted its COVID-19 vaccine development is 100 percent funded by U.S. taxpayers. Then, Moderna’s CEO announced plans to price the company vaccine at $32 to $37 per dose — the highest price yet for any of the leading COVID vaccine candidates. In response to the news, Ben Wakana, the executive director of Patients For Affordable Drugs, issued the following statement:
“Moderna must be investigated by Congress. The biotech firm stands to make billions of dollars off of a drug that is entirely financed by U.S. taxpayers. It plans to turn around and sell the drug to Americans at an exploitative price — higher than any competitor. This type of behavior must be investigated.”
Read what people are saying about Moderna’s mess:
Bob Herman, Axios: “…federal money makes up ‘100% funding of the program.’ … Moderna has received almost $1 billion in taxpayer grants to get its vaccine through clinical trials and is considering setting the highest price of all coronavirus vaccine candidates.”
Ed Silverman, STAT News: “As for Moderna, a spokesman wrote to say that the contract is fully funded by BARDA.”
Emily Kopp, CQ Roll Call: “!!!!!!! Moderna plans to make a profit on a COVID vaccine that is 100% funded by the people.”
Zach Brennan, Politico: “And Moderna’s vaccine was developed with $1B in gov funds and the help of NIAID, and Pfizer’s was developed with $0.”
Congresswoman Jan Schakowsky: “2 weeks ago, @moderna_tx told me under oath that they’d sell their #COVID19 vaccine for a profit. Today, we learn U.S. taxpayers have paid for 100% of that vaccine’s research & development with ~$1 billion. The American people should not have to pay twice.”
Congressman Lloyd Doggett: “Even when taxpayers pay for the entire cost of developing a pharmaceutical, manufacturers charge whatever they please. With little accountability demanded by either the Trump Administration or Congress for billions granted to pharmaceutical companies, Americans will pay and pay and pay for overpriced products that their tax dollars created.”
Peter Bach, MD, Memorial Sloan Kettering: “Drug cos typically internalize risk & cost of testing their products. If the products work they get back their money many times over. But if the govt funds the riskiest stages of testing, the company should get a far lower return.”
David Mitchell, Patients For Affordable Drugs: “What’s wrong w/drug pricing in America?…Taxpayers are funding 100% of @Moderna_Tx vaccine, yet Moderna is seeking to charge us the highest price among vaccine candidates. We are paying the full cost to develop it; then we have to pay again to buy it.”
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