TheAstraZeneca, a drugmaker, has been selling coronavirus vaccine at no-profit prices during the pandemic. This was part of its promise to provide the vaccine at no cost throughout the crisis.
ButOn FridayThe Anglo-Swiss company said in reporting its third-quarter earnings that it would begin pricing its vaccine to make a “modest” profit “as new orders are received.” Countries have been paying around $3 or $4 for each shot of AstraZeneca’s two-dose vaccine under the company’s current pricing model.
ToA much greater extent than the vaccines Pfizer-BioNTech Moderna, AstraZeneca’s vaccine has been the workhorse of the effort to vaccinate poorer countries, many of which are facing severe vaccine shortages. AboutAs of the end, 1.1 billion AstraZeneca tablets had been delivered to low- and middle-income countries. October.
The company’s chief executive, Pascal SoriotAnalysts were told by. Friday that AstraZeneca would progressively transition “to a for-profit approach” but he added the company “will ensure the vaccine is affordable for low- and middle-income countries.” HeWe provided few details about the new pricing.
LastAstraZeneca made a promise not to make any profit on its vaccine during the pandemic, but retained the right to decide when the crisis would be declared over. ResearchersThe UniversityThis is OxfordAstraZeneca was a partner in the development of the vaccine by Dr. David Polak and his team.
BritishHealth officials provided funding early to the Oxford team. Nick DeardenDirector of the BritishAdvocacy group Global Justice Now, said in a statement that the company’s decision to start profiting on the vaccine “shows the utter folly of giving away publicly funded science to big pharma.”
AstraZeneca, together with its production partners across the globe, had distributed more than 1.7 million doses of the vaccine as of the end of OctoberA spokesperson for AstraZeneca said that it supplies more than 170 nations. TheThe availability of vaccines in this country is not permitted. United States.
TheCompany claims that the vaccine earned $2.1 billion through the end. September. ItThe company projected that it would make its vaccine revenue in the final three months of this year primarily from existing non-profit orders with a small portion from new, more lucrative orders.
Johnson & Johnson — which, like AstraZeneca, had vowed to sell its vaccine at a not-for-profit price — expects $2.5 billion in revenue from its vaccine this year. ModernaAlthough it has not made such an assurance, the company expects to receive $18 billion in vaccine revenues. PfizerIt also offers for profit pricing. The vaccine company expects $36 million in revenue. The company is splitting the revenue with its development partner. GermanBioNTech is a company.
Source: NY Times