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Pfizer, Moderna to raise prices for Europe: Report

International desk || shiningbd

Published: 19:59, 2 August 2021  
Pfizer, Moderna to raise prices for Europe: Report

Pfizer and Moderna are said to be raising the price of their COVID-19 vaccines in Europe [File: Leon Kuegeler/Reuters]

Pfizer and Moderna, the manufacturers of two of the most effective COVID-19 vaccines, have raised the prices of their jabs in their latest European Union (EU) supply contracts, according to a report in the Financial Times newspaper (FT).

The new price for the Pfizer shot was 19.50 euros ($23.15) compared with 15.50 euros ($18.39) previously, the media outlet said, citing portions of the contracts it had seen.

The price of a dose of the Moderna vaccine was set at $25.50, according to the contracts, compared with $22.60 in the first procurement deal, although lower than the previously agreed $28.50 because the order was larger, the FT said, citing one official close to the matter.

Al Jazeera’s Neave Barker, who is in London, said the price hikes reflected the continued demand for effective jabs and that governments had become a “captive audience” to pharmaceutical companies.

“EU countries are keen to stamp out the spread of the Delta variant,” he said. “And the EU and countries beyond are mulling the possibility of administering a booster jab to improve efficacy.”

Pfizer declined to comment on the contract with the European Commission (EC), citing confidentiality. “Beyond the redacted contract(s) published by the EC, the content remains confidential and so we won’t be commenting,” the company said.

Moderna was not immediately available for comment to the Reuters news agency.

Last Tuesday, the European Commission said that the EU is on course to hit a target of fully vaccinating at least 70 percent of the adult population by the end of September. In May, the EU said it expects to have received more than a billion doses of vaccines by that time from four drugmakers.

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