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

Concerns Arise Over Protests During Coronavirus Pandemic

Concerns Arise Over Protests During Coronavirus Pandemic

Peter Pitts appears on NBC 6 Miami with Sheli Muñiz to discuss the protests and spread of coronavirus...  Read more

$40 price tag for potential coronavirus vaccine seems to be ‘right on the money,’ says think tank

$40 price tag for potential coronavirus vaccine seems to be ‘right on the money,’ says think tank

If a potential coronavirus vaccine is not affordable, too many people will not get vaccinated, says Peter Pitts, presiden...  Read more

Early success of COVID-19 vaccine candidates fuels optimism, but experts warn 'a lot has to go right'

Early success of COVID-19 vaccine candidates fuels optimism, but experts warn 'a lot has to go right'

USA TODAY created a panel of experts to estimate how far we are from when a COVID-19 vaccine will be available to all Ame...  Read more

DRUGWONKS BLOG