Pfizer, Moderna raise prices for Covid-19 vaccines in European Union

The terms of the deals were renegotiated after Phase 3 clinical trial data showed vaccines from the two companies are more effective than some rivals

Pfizer Inc and Moderna Inc have raised the prices of their Covid-19 vaccines in their latest European Union supply contracts, the Financial Times reported on Sunday. The new price for the Pfizer shot was 19.50 euros ($23.15) against 15.50 euros previously, the newspaper said, citing portions of the contracts seen. The price of a Moderna vaccine was $25.50 a dose, the contracts showed, up from about 19 euros in the first procurement deal but lower than the previously agreed $28.50 because the order had grown, the report said, citing one official close to the matter. The terms of the deals —struck this year and covering up to 2.1 billion shots until 2023 —were renegotiated after Phase 3 clinical trial data showed vaccines from the two companies are more effective than some rivals, it said.

The European Commission said on Tuesday that the EU is on course to hit a target of fully vaccinating at least 70 per cent of the adult population by the end of the summer. In May, the EU said it expects to have received more than a billion doses of vaccines by the end of September from four drugmakers. Pfizer and Moderna were not immediately available for comment to Reuters.

More nations that are a part of the block are making vaccination mandatory to access social life with ease. France recently witnessed widespread demonstrations against what the people saw as a form of dictatorship. Germany’s government was also set to recommend the vaccine for all 12- to 17-year-olds on Monday, the Associated Press reported, citing a draft resolution ahead of a planned meeting of state-level health ministers.

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