The new contracts Pfizer and Moderna signed with the European Union show, according to the Financial Times, that the two pharmaceutical companies have ramped up prices by almost a quarter, making tens of billions of dollars.
The documents show that Pfizer’s vaccine now cost €19.50, four euro (or 25%) from the previous unit price of €15.50 euro while the Moderna price of €21.50 (13%), compared to the previous price of €19, is still lower than expected due to larger purchase from the EU.
Europeans have become more interested in Moderna’s jab Astra-Zeneca and Johnson & Johnson Covid-19 vaccines have raised serious concerns with it’s very rare but serious blood clotting that they can cause.
This means that the pandemic profits of Pfizer and Moderna will significantly rise, unlike AstraZeneca, whose vaccine is sold at cost.
The forecasted profit for this year alone will go up to $33.5 billion for Pfizer, $7.5 billion more than its previous prediction in the last quarter, while Moderna’s revenue is predicted to raise to $19.2 billion.