Remember when everyone was in sync and working towards the common goal of ending the pandemic and saving lives?
As Pfizer is proving while they eye their 2023 market, those days are long over.
A deal during the pandemic saw the US government purchase more than 500 million doses of the COVID vaccine from Pfizer. Per a negotiated agreement, the first 100 million costs around $20 per dose, and the remaining 400 million were purchased for around $30 each.
But for 2023, when government supplies run out, Pfizer can set their prices – and they plan to put them around $110-$130 per dose.
Each dose costs around $1.18, making Pfizer’s suggested price a 10,000% markup.
Pfizer is trying to explain and justify their decision, explaining to QZ.com in an email, “There are key differences between an emergency and traditional model that increase the costs of making and distributing the COVID-19 vaccine.” The company explained that these costs, including distributing through multiple channels and payers instead of one and producing the doses in single vials, can be as much as three times as expensive and cost more to transport.
Pfizer reassured that most insured patients will continue not to face out-of-pocket costs for the vaccine and that they will provide assistance to anyone who cannot afford the shot.
That sounds great until you think that if insurance is paying for the outrageously hiked vaccines, the money comes from somewhere.