The first vaccine profiteer: Moderna

Is this email not displaying correctly? View in your browser

Hi John,

It shouldn’t be a surprise but when it happens, it’s still shocking. Big pharmaceutical companies have been careful about not appearing to cash in during this crisis, but now the mask is slipping.

The US company Moderna has refused to price its potential Covid-19 vaccine at-cost. Even though it has received almost $1bn in public money to help develop the vaccine.

Moderna’s reported price tag of $50-$60 per course would be the highest price cited for a potential vaccine so far and makes this vaccine expensive for all countries and especially for lower income countries. An effective vaccine will play a vital part in ending this global pandemic and so it can’t be a luxury item for the rich only.

Email Moderna and help us pile on the pressure to show that profiteering during a crisis is unacceptable.

Take action

Even though Moderna’s vaccine trials are not finished yet, the company has already gained financially. Its share value has soared by almost 325% this year because it was the first vaccine to enter trials in the US and showed positive results early on. Moderna already stands to earn up to $8.1bn from its deal with the US government alone.

The pharmaceutical industry has a long track record of charging high prices for essential life-saving medicines and it looks like this is happening all over again with a potential Covid-19 vaccine.

Our system allows Moderna to charge whatever price it wants and profiteer during a crisis because new drugs and vaccines are patented and this creates a legal monopoly. There should be no monopolies during a global pandemic and any vaccine that is effective to tackle Covid-19 should be a global public good - affordable to all countries and free to the public.

Call on Moderna to commit to a non-profit price for its vaccine and to share the vaccine with the WHO’s Covid-19 patent pool so that other companies can also make the vaccine and ensure sufficient global supply as fast as possible.

Email Moderna

Together we can show companies that it is unacceptable to profiteer from life-saving treatments during a global crisis.

Thank you for your support.

Heidi Chow
Campaigner at Global Justice Now

NOTES

Moderna aims to price coronavirus vaccine at $50-$60 per course: FT, 28 July 2020, https://uk.reuters.com/article/us-health-coronavirus-moderna/moderna-aims-to-price-coronavirus-vaccine-at-50-60-per-course-ft-idUKKCN24T2TP
Moderna stands to earn $300M for quick vaccine approval, up to $6.6B for extra doses: filing, 17 August 2020, https://www.fiercepharma.com/vaccines/moderna-stands-to-earn-300m-from-early-covid-vaccine-approval-up-to-6-6b-for-extra-dose
Moderna announcement, 26 July 2020, https://investors.modernatx.com/news-releases/news-release-details/moderna-announces-expansion-barda-agreement-support-larger-phase

Help ensure that any Covid-19 vaccine is affordable for everyone, everywhere

We are campaigning for the government to attach conditions on all UK funding for a Covid-19 vaccine so that big pharmaceuticals don’t charge extortionate prices, and leave millions of people around the world unable to access it.

Regular gifts give us the long-term stability to plan effective campaigns and the flexibility to respond to crises like these.

If you’re not already a member, will you join today?

Join today