In a U.S. House Energy and Commerce Oversight and Investigations Subcommittee hearing yesterday conducted by remote video, representatives of COVID-19 vaccine developers disclosed a range of planned approaches to pricing.
AstraZeneca (NYSE:AZN) and Johnson & Johnson (NYSE:JNJ) indicated that they would price their offerings, if approved, at the cost of production, at least until the pandemic ebbs.
Moderna (NASDAQ:MRNA) and Merck (NYSE:MRK) said that they would set prices exceeding manufacturing costs, although Moderna added that it planned to price it “reasonably” to ensure broad access.
Pfizer (NYSE:PFE), developing its candidate with BioNTech (NASDAQ:BNTX), indicated that it expects to make a profit but it wouldn’t “charge too much” considering the “extraordinary times” of the pandemic. Individuals should not have to pay anything.
For comparison purposes, flu shots typically cost $16-25 per dose, according to the CDC. Jefferies’ Michael Yee believes that COVID-19 vaccines will cost $50-100 per course, adding that Moderna’s offering could generate up to $2B in sales in the first year.
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