Moderna CEO Blasted for Planned Covid Vaccine Price Hike – By Yuval Rosenberg (The Fiscal Times) / Mar 22 2023
The CEO of drugmaker Moderna came under fire from lawmakers Wednesday at a Senate hearing focused on the company’s plans to quadruple the price of its Covid-19 vaccine.
Moderna’s Covid booster costs about $26 per dose under a 2022 deal with the government, but the company plans to raise the price to about $130 per dose once the public health emergency ends, which is expected to happen in May. Moderna has promised that its shots will continue to be free for most Americans, but lawmakers worry about how patient assistance programs might be structured. Also, the prices charged to insurers could still be passed along to patients and boost overall health care spending.
The Senate’s Health, Education, Labor, and Pensions committee, led by Sen. Bernie Sanders (I-VT), titled Wednesday’s session “Taxpayers Paid Billions For It: So Why Would Moderna Consider Quadrupling the Price of the Covid Vaccine?” And Sanders wasted no time in laying into the drug company.
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