Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

US govt tells vaccine makers to price updated COVID shots reasonably

Published 07/13/2023, 01:57 PM
Updated 07/13/2023, 02:01 PM
© Reuters. FILE PHOTO: Stanisha Land receives the Moderna coronavirus disease (COVID-19) vaccination shot at Trinity United Church of Christ in Chicago, Illinois, U.S., February 13, 2021.  REUTERS/Kamil Krzaczynski/File Photo
PFE
-
NVAX
-
MRNA
-

(Reuters) -COVID vaccine makers should price their updated shots for the fall at a reasonable rate that would reflect the benefits they received through government investments, the U.S. Department of Health and Human Services (HHS) said on Thursday.

The U.S. government will also launch a $1 billion "Bridge Access Program" for this fall, to help those without insurance and the underinsured to continue getting vaccines and treatments at no cost.

The appeal from the HHS to the vaccine makers – Pfizer/BioNTech, Moderna (NASDAQ:MRNA) and Novavax (NASDAQ:NVAX) – comes at a time when the United States is moving to a commercial marketplace for COVID products from government purchases in the early years of the pandemic.

The manufacturers are developing updated versions of their respective vaccines to target the currently circulating XBB.1.5 subvariant for this fall, based on the advice of U.S. Food and Drug Administration (FDA) last month.

Following approval of the updated shots from the FDA, the Centres for Disease Control and Prevention (CDC) will make a recommendation for their use by late September.

Pfizer (NYSE:PFE) and Moderna completed their submission to the FDA for an updated shot in late June. Moderna said it expects to supply the shots in time for the fall campaign and Pfizer expects to ship doses immediately upon approval.

Novavax said it plans to file with the FDA in time to make its shot available by late September.

In a letter to the vaccine manufacturers, HHS said it expects them to prepare for an ample supply for the 2023-24 fall vaccination campaign, and remain prepared to support any potential surges in demand and evolving COVID situations.

© Reuters. FILE PHOTO: Stanisha Land receives the Moderna coronavirus disease (COVID-19) vaccination shot at Trinity United Church of Christ in Chicago, Illinois, U.S., February 13, 2021.  REUTERS/Kamil Krzaczynski/File Photo

While Moderna and Pfizer have not settled on a price, the companies are planning to target a range of commercial price of $110 to $130 a dose for their vaccines.

The CDC said the government program aims to help the estimated 25-30 million Americans without insurance, and additional adults whose insurance will not provide free coverage for COVID vaccines after the move to the commercial market.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.