Too Little, Too Late: Welcome to the World of COVID-19 Vaccine Price Gouging

Why the Biden Administration warning today has little impact on Pharma CEOs

Last year, Pfizer’s CEO announced that once the government ended its public health emergency for the pandemic, the company planned to quadruple the price it charged Americans for its COVID-19 vaccine. The new price, $130, was a 10,000% markup over what analysts believe is Pfizer’s manufacturing cost.

At the price it charged the government, $30, Pfizer had still made a killing. In its first full year of sales, Pfizer had $36.7 billion in worldwide vaccine revenue, representing a stunning 45% of all its sales. It was the biggest selling drug in pharma history in its debut. Last year, Pfizer pulled in another $32 billion.

Moderna added $19 billion last year for its mRNA vaccine. Not bad for a company that had never managed to successfully get a single drug to the market before its Covid vaccine. Little wonder that Moderna followed Pfizer’s lead in setting its upcoming vaccine prices at $130. Evidently no one is aware, or cares, that price fixing is still illegal.

The U.S. government g…