Moderna’s vaccine deal is a bargain or racket, depending on whom you ask
Last night, Moderna agreed to trade 100 million doses of its Covid-19 vaccine for about $1.5 billion in federal money. That amounts to $15 a dose. Pfizer and BioNTech, Moderna’s closest competitors, signed a similar deal that adds up to $19.50 a dose. And thus the government was able to negotiate a discount from Moderna, marking yet another victory for the free market.
Or you could look at it this way: NIH researchers played an integral role in inventing Moderna’s vaccine, and the federal government is paying for 100% of its development costs, which might amount to about $1 billion. That means trading $1.5 billion for actual doses is effectively paying Moderna twice. And thus the real cost is $2.5 billion, or $25 a dose, which is a premium to Pfizer’s vaccine and marks yet another victory for taxpayer-funded corporate welfare in the U.S.
Whether either of those takes is true is debatable, and, for better or worse, it’s a debate we’re going to hear for the next few months as we await definitive data on whether Moderna’s vaccine actually protects people from Covid-19.
Or you could look at it this way: NIH researchers played an integral role in inventing Moderna’s vaccine, and the federal government is paying for 100% of its development costs, which might amount to about $1 billion. That means trading $1.5 billion for actual doses is effectively paying Moderna twice. And thus the real cost is $2.5 billion, or $25 a dose, which is a premium to Pfizer’s vaccine and marks yet another victory for taxpayer-funded corporate welfare in the U.S.
Whether either of those takes is true is debatable, and, for better or worse, it’s a debate we’re going to hear for the next few months as we await definitive data on whether Moderna’s vaccine actually protects people from Covid-19.
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