Robert ReichModerna is planning to charge $130 for its COVID vaccine, but the vaccine only costs $2.85 to make.
Meanwhile, over the last two years, the company made over $19 billion in profits off the vaccine.
Folks, this is what corporate greed looks like.
Edward Kennedy@rbreich I totally agree with you about the disparity between cost to make versus the sale price. That being said, I am curious how much the research of the vaccine cost Moderna.
Krister Renaud@ekennedy80 @rbreich Moderna got over $1bn from operation warp speed and has sold a LOT of doses. There is no chance that they aren't already making a big profit.
@krenaud @rbreich That’s what I am thinking. The American people shouldn’t be gouged especially since we helped fund the rollout of the vaccine. I am more curious about the cost of the underlying technology, mRNA platform, that was researched for at least a decade before implementing a COVID vaccine.
@rbreich @ekennedy80 reading this it sounds like the companies should have been able to recover those costs too considering others have provided some of the research.
vakaren52@ekennedy80 @krenaud @rbreich government funded scientist contributed to the mRNA solution.
@dlenares@ekennedy80 @krenaud @rbreich
My understanding is that they were not investing in research on the underlying technology because infectious diseases were not profitable before COVID and Operation Warp Speed. The US government paid for the research.
My understanding is that they were not investing in research on the underlying technology because infectious diseases were not profitable before COVID and Operation Warp Speed. The US government paid for the research.
@ekennedy80 @krenaud @rbreich
I don't have a source for this but a friend is in research admin at Moderna and she mentioned it years ago.
I don't have a source for this but a friend is in research admin at Moderna and she mentioned it years ago.
Flip them all@krenaud @ekennedy80 @rbreich What I've never understood is why the government doesn't put the patent in the public domain whenever they've funded the R&D.
@rbreich @JYeo18 @ekennedy80 or even better, licence the tech for free, but requiring the licensees to give back to the public in some way.
WTF@JYeo18 @krenaud @ekennedy80 @rbreich
For the COVID vaccine in particular because the government paid for the development
For the COVID vaccine in particular because the government paid for the development
Jule@JYeo18
That is exactly what would be the right thing to do.
UdieA list of recent transactions by insiders, e.g. mainly officers and large share owners.