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Moderna is quadrupling the cost of covid vaccines, from $26/dose to $110-130. Moderna CEO Stephane Bancel calls the price hike “consistent with the value” of the mRNA vaccines. Moderna’s manufacturing costs are $2.85/dose, for a 4,460% markup on every dose.
But the story of the Moderna vaccine isn’t one of a company taking huge gambles with shareholder dollars. It’s the story of the US government giving billions and billions of dollars to a private firm, which will now charge the US government – and the American people – a 4,460% markup on the resulting medicine.
Moderna clearly does not feel that the billions it received in public funds came with any obligation to serve the public interest. The company falsified its patent applications, omitting the NIH scientists who co-developed the vaccine, claiming sole ownership.
What will Moderna do with the billions it reaps through price-gouging? It won’t be research. To date, the company has spent >20% of its covid windfall profits on stock buybacks and dividends, manipulating its stock price, with more to come.