U.S. sets global benchmark for COVID-19 vaccine price at around the cost of a flu shot

  • Reuters | by: Carl O'Donnell |
  • 07/23/2020 12:00 AM
U.S. sets global benchmark for COVID-19 vaccine price at around the cost of a flu shot
Photo Credit: Reuters/Dado Ruvic

Unlike other vaccine deals signed by the government, Pfizer and BioNTech will not collect a payment until their vaccine proves to be safe and effective in a large pivotal clinical trial expected to start this month.

The U.S. and other governments have previously struck deals to support COVID-19 vaccine development, some of which included guaranteed deliveries of doses. But this is the first deal to outline a specific price for finished products.

“The average price for a flu vaccine is around $40,” said Peter Pitts, president and co-founder of the Center for Medicine in the Public Interest. “It looks good with that comparison. It’s well within the ballpark of reasonableness.”

So far, the other major experimental vaccines have all displayed relatively similar data on safety and efficacy, suggesting that no one drugmaker would be able to charge dramatically more than its peers, said Mizuho biotechnology analyst Vamil Divan.
 
Sign Up for Our Email Newsletter

RECENT NEWS

World Health Organization: 70 COVID-19 Vaccines Under Development, With 3 In Human Trials

World Health Organization: 70 COVID-19 Vaccines Under Development, With 3 In Human Trials

Peter Pitts on Fox News Channel with Neil Cavuto "World Health Organization: 70 COVID-19 Vaccines Under Development, Wi...  Read more

FDA to Announce Tougher Standards for Coronavirus Vaccine

FDA to Announce Tougher Standards for Coronavirus Vaccine

Cheddar's Hena Doba is joined by Prof. Peter Pitts, Founder of the Center for Medicine in the Public Interest and Former ...  Read more

The Spreading Cancer of Counterfeit Drugs
  • CMPI
  • 10/01/2020 12:00 AM

The Spreading Cancer of Counterfeit Drugs

Just as the coronavirus mutates to survive and thrive, so to do the purveyors of counterfeit medicines -- with their high...  Read more

DRUGWONKS BLOG