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There is a number of factors that will affect the COVID-19 vaccine price. They include technology, single or a double vaccine dose, as well as what yields from manufacturing facilities might be.
While biotech companies worldwide are progressing in the COVID-19 vaccine development, Global Alliance for Vaccines and Immunization is estimating what price would be appropriate for a dose of the anti-coronavirus drug. According to the vaccine alliance, $40 would be the “highest number” in the price range.
Seth Berkley, CEO of the GAVI Alliance that is co-leading the COVAX facility designed to ensure fair global access to COVID-19 doses, there is no specific target price for the vaccine. However, it will differ depending on whether the country is a richer or poorer one.
He has also commented on a statement from European Union sources. According to their data, the COVAX facility was targeting a $40 price for COVID vaccines for wealthy countries. He said it is too early to speak of the COVID-19 vaccine price as it is unclear which vaccine candidate will work.
“The truth is nobody has an idea what the price is going to be, because we have no idea which (potential COVID) vaccine is going to work.”
He further added:
“There was a large range of numbers, and they (the EU sources) put the highest number out. In a presentation to EU officials, COVAX officials had given a range of different prices. And that ($40) was the maximum price in the range for high income countries, rather than a set price.”
According to Berkley, there is a number of factors that will affect the vaccine price. They include technology, single or a double vaccine dose, as well as what yields from manufacturing facilities might be. He said that COVAX is putting together all those estimates, but there is still no firm prices:
“The challenge is trying to come up with a cost. Anybody who tells you they know isn’t being honest.”
COVID-19 Vaccine Progress
Lots of companies worldwide are working on the development of the COVID-19 vaccine. Some of them have already made significant progress. For example, one of the front-runners in the vaccine race Moderna Inc (NASDAQ: MRNA) has received an additional $472 million from the U.S. government’s Biomedical Advanced Research and Development Authority (BARDA). The additional funding will support its late-stage clinical development. It includes the expanded Phase 3 study of Moderna’s vaccine candidate that started on July 27.
Another pharma giant Pfizer Inc (NYSE: PFE) is also progressing. The company has already signed a $1.95 billion deal with the U.S. government to supply 100 million doses and an additional 500 million doses of the vaccine. Working in collaboration with BioNTech SE (NASDAQ: BNTX), Pfizer hopes to seek regulatory authorization by October if the clinical trial proves successful. If Phase 3 is successful, Pfizer and BioNTech will produce up to 100 million doses by the end of 2020. The joint venture also hopes to have manufactured over 1.3 billion doses by the end of 2021.