Pfizer & Moderna signal big hike in prices of their COVID-19 vaccines in European Union

Pfizer and Moderna, both US-based pharmaceutical companies, have been widely credited with manufacturing initial vaccines against COVID and also for pioneering research in the field. Now, in the latest development, both the manufacturers have upped the price of their vaccine shots across the European Union (EU). According to DW News, the companies revealed the price hike in their latest supply contract with the bloc.

What are the new prices?

The price of one BioNTech/Pfizer shot has risen from €15.50 (Rs 1,366) to €19.50 (Rs 1,718). Meanwhile, that of one jab manufactured by Moderna Inc has surged from €19 (Rs 1,677) to €21.50 (Rs 1,897). It is imperative to note that the revised rates are only for the European bloc and would be applicable on the supply of more than 40 million Moderna shots that the EU is expecting later in October. 

Meanwhile, apart from the regular COVID vaccines, both Moderna and Pfizer have also inked contracts with the EU to supply vaccines for teens and young adults. Last month, European Medicines Agency (EMA), approved the use of Moderna’s COVID-19 vaccine for children aged between 12 to 17 years of age. EMA approved Moderna’s Spikevax highlighting that it is efficient in producing significant antibodies in teens. “The use of Spikevax vaccine in children from 12 to 17 years of age will be the same as in people aged 18 and above,” the EMA said in a statement. Previously, the EMA had recommended the use of the Coronavirus vaccine made by Pfizer and BioNTech be expanded to children aged 12 to 15, a decision that offers younger and less at-risk populations across the continent access to a COVID-19 shot for the first time during the pandemic.

COVID-19 in Europe 

Europe, which is currently battling its fourth wave, has registered 51,711,534 cases and 1,135,331 fatalities as of now. Meanwhile, it has fully inoculated over 57% of people over 18 years of age across 27 nations. Recently, EU Commission Chief Ursula von der Leyen issued a statement asking people not to let their guard down as the “very dangerous” Delta variant of the virus was still a threat. 

Image: AP