Daily Management Review

Other Developed Countries To Be Charged The Same As The US For Its Vaccine, Says Pfizer


Compared to what it has charged the United States for its vaccine against the novel coronavirus that is still undergoing development, Pfizer Inc has said that the price for its vaccine candidate will not be lowered for other developed countries, the company said.
Pfizer finalized a deal with the US for sale of its vaccine, if successful, just last week.
According to the deal, the US government had agreed on a total package of nearly $2 billion to purchase enough of a Covid-19 vaccine that is being developed by Pfizer and German biotech BioNTech SE with the aim of vaccinating about 50 million Americans at a price of $39 for a two-dose treatment course.
It is likely that this deal will set a globally applicable benchmark for the vaccine, which is almost the same price as that of a seasonal flu shot. This deal could also put pressure on  vaccine makers to set similar prices.
“All the countries that are developed right now will not receive a lower price for the same volume commitment than the U.S.,” Pfizer Chief Executive Albert Bourla said on a conference call.
But once the pandemic period ends, it can change the price of the vaccine, Pfizer said. this decision was in contradiction to its previous decision to ensure the broadest access to its vaccine by all sections of the world.
Pfizer is one among the almost 150 companies that are currently trying to develop a vaccine against Cvoid-19 and the finding of a vaccine is being considered to be absolutely essential to end the novel coornavirus pandemic that has claimed more than 655,000 lives globally.
Negotiations about deals for supply of its vaccine, if and when successful and gets regulatory approval, are currently being carried out by the company with the European Union and several of its member states, Bourla told the media.
“We are negotiating with the EU because that would be much easier. But also we are having extensive discussions with several member states, just in case we can’t find agreement with the EU,” Bourla said.
A large, late-stage trial of one of their vaccine candidates was started on Monday by BioNTech and Pfizer. These tests are essential to showcase the efficacy of the vaccines of the two companies. United States based pharma Moderna Inc also announced on Monday that it was starting its last phase trial for its vaccine candidate involving 30,000 people but using a different technology to develop the vaccine. .
Bourla called an executive order signed by U.S. President Donald Trump last week that would tie what Medicare pays for drugs to lower prices in other countries “an enormous distraction at a time where the industry needs to be completely focused on developing a potential COVID-19 vaccine or treatment.”
If the Trump order were to be implemented, Pfizer could rethink its expansion plans for the US, the CEO said.