Vaccine manufacturers Pfizer-BioNTech and Moderna are reported to be raising their prices in the European Union in their new contracts, the British newspaper, Financial Times, revealed. The Pfizer vaccine will jump from 15.5 euros to 19.5 euros while Moderna from 19 euros to 21.5 euros.
In response, the World Health Organization urged Covid-19 vaccine manufacturers to keep their prices low and affordable.
Mariangela Simao, WHO assistant director general for access to medicines, vaccines and pharmaceuticals said “It’s very important that we have companies state policies of affordable prices.” She said that when both Pfizer and Moderna had increased their manufacturing capacities, diversified their plants and increased production line efficiency, it should lead to a decrease, instead of increased price.
Campaigners from the People’s Vaccine Alliance say the cost of vaccinating the world against Covid-19 could be at least five times cheaper if pharmaceutical companies weren’t profiteering from their monopolies. Their analysis shows that Pfizer and Moderna are charging governments as much as $41 billion above the estimated cost of production.
Although vaccines are offered for free by most nations, including the Philippines, governments that are able to procure jabs at lower prices would be able to focus spending on other priorities such as cash assistance for laborers and businesses that have been devastated by the economic effects of the pandemic.
Government budgets are in crisis all over the world, and with the Delta variant driving new surges, even more resources will be needed to fight the pandemic. Although it will most likely fall on deaf ears, the call to put people before profits applies to both the pharmaceutical industries and corrupt politicians alike.*
