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.
🇺🇦PsiPhi 🦉🔬@rbreich
To be a little bit fair they have to account for the R&D for all the drugs that flop and end up losers. They have to have make up for that, pay their overhead and still turn a profit. Obviously greed/ profit motive is there, they’re not a charity, but without such big rewards companies won’t risk the billions needed to create such complex vaccines in the first place. Don’t know what a fair price should be for the risk. Too low & companies won’t enter the market & no vax.
To be a little bit fair they have to account for the R&D for all the drugs that flop and end up losers. They have to have make up for that, pay their overhead and still turn a profit. Obviously greed/ profit motive is there, they’re not a charity, but without such big rewards companies won’t risk the billions needed to create such complex vaccines in the first place. Don’t know what a fair price should be for the risk. Too low & companies won’t enter the market & no vax.
@rbreich
There are competitor vaccines that people can buy that ought to keep prices down in a competitive market.
And how long does this patent last?
Once it’s up generics will likely come on the market and the price for this specific vax will drop unless there are constant mutations.
This is a bit different than say insulin needed constantly or a one of a kind drug that cost $60k per treatment.
where I live in the Czech Republic the state sets caps on drug prices and pharma companies still do very so, there’s that too. You have to balance what’s moral with what maintains a healthy market.
We have the luxury of being a small market sort of free riding on research and profits from profits of international companies though.
LadyUnicornEJG