Pharmaceutical companies Pfizer Inc. and Moderna Inc. have raised the prices of their COVID-19 vaccines, in line with the latest supply contracts with the European Union. This was reported by BNN Bloomberg with reference to the Financial Times.
The rise in prices comes amid EU efforts to address supply disruptions and concerns about side effects from other vaccines, the FT said.
The terms of the contracts signed this year, which will ship up to 2.1 billion doses by 2023, were renegotiated after data from phase 3 clinical trials showed that Pfizer and Moderna were more effective than some competitors’ vaccines.
The new price for a Pfizer dose is €19.50 ($23.15), up from €15.50 previously. The cost of a dose of Moderna vaccine increases to $25.50.
