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

Your Most Pressing Questions About the COVID-19 Vaccine Answered

Your Most Pressing Questions About the COVID-19 Vaccine Answered

Peter Pitts, CMPI president, joined NBCLX to address some of the more pressing concerns many have with the possibility of...  Read more

Vaccine Hopes Rise After Latest Data From Pfizer

Vaccine Hopes Rise After Latest Data From Pfizer

Hopes of a path back to normalcy in the U.S. were raised this week, thanks to the latest news from Pfizer. The pharmaceut...  Read more

Former FDA Associate Commissioner Says FDA Made Right Move to Authorize Convalescent Plasma

Former FDA Associate Commissioner Says FDA Made Right Move to Authorize Convalescent Plasma

Peter Pitts, President for the Center For Medicine in the Public Interest, explains why he believes the FDA authorized th...  Read more

DRUGWONKS BLOG