Ruling out selling its mRNA-based COVID-19 vaccine at cost, if approved, fresh IPO CureVac (NASDAQ:CVAC) says it plans on earning an “ethical” profit margin based on a competitive price.
CFO Pierre Kemula declined to disclose what the expected margin will be but said the unit price will be dose-dependent not cost-related.
Rival COVID-19 vaccine developers AstraZeneca (NYSE:AZN) and the University of Oxford have floated $3 – 4 per dose for their offering while Johnson & Johnson’s (NYSE:JNJ) will be $10 per dose, reflecting their previously stated commitment not to profit from their respective vaccines during the pandemic. Fellow mRNA vaccine developer Moderna (NASDAQ:MRNA) has priced some of its shots at $74 per course.
Talks between the EU and company for a committed supply of product are in process.
Earlier this year, the German government invested €300M in the company, representing a 23% stake, aimed at blocking any foreign takeover attempt.
The company is working with Tesla Grohmann Automation, a subsidiary of the electric car maker, to develop RNA printers to help manufacture the vaccine. At present, there are eight prototypes, each capable of making 0.5 gm per week.
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