Pfizer and Moderna are increasing the cost for their COVID-19 vaccines with European clients.
First reporting on the news on Sunday, August 1, the Financial Times said the increase in value was said to be because the companies recognized their market power, as trial data showed the vaccines they developed were more efficient against the CCP virus (COVID-19) than the Oxford/AstraZeneca and Johnson & Johnson shots.
According to the re-negotiated deals, Pfizer was puffing up the cost for its vaccines to €19.50 ($23.15), more than a quarter higher than its previous cost of €15.50.
Moderna came out with a slightly lower increase, which was settled at $25.50, a little more than 10% from its previous price of €19 ($22.60). The outlet said it was a reduced value from what the company initially demanded, which was at $28.50, but they cut down the cost as the order had increased.
Chief executive Albert Bourla thought the inflated cost was “comparable” as countries with less competent economies were charged lower.
By far, problems with supply issues, protection effectiveness, and severe side effects related to rare blood clots in AstraZeneca and J&J vaccines had put the mRNA doses on the pedestal.
AstraZeneca, since its introduction, had been quite sluggish in its manufacturing process. And as India, one of the main producers of the AstraZeneca shots, had had months of struggling with their own pandemic at home, shipments and productions were drastically affected, according to NPR.
In a study released on July 19, the one-shot vaccine produced by J&J offered nearly 28% less protection than that of Pfizer, at only 66.9% efficacy compared to 95%.
In terms of their potential risks of causing rare blood clots, both AstraZeneca and J&J doses had had a period of postponed distribution by the European Union due to grave concerns over their effects.
While the European Union had particularly paid close attention to the blood clot situations in the AstraZeneca and J&J jabs, trials and research also showed they were much less effective, the outlet said.
The commission and EU governments had consented to pay a higher price to safeguard guaranteed supplies from European manufacturing firms, the Financial Times reported.
In an update on Tuesday, July 27, the European Commission said the EU was aiming to have at least 70% of its adult population fully immunized as summer ends.
Speaking of the new supply from Pfizer in place of the AstraZeneca shortage European Commission President Ursula von der Leyen said the countries were determined to rush for an increase in vaccinated citizens.
“The catch-up process has been very successful—but we need to keep up the effort,” she said, per Reuters. “The delta variant is very dangerous. I therefore call on everyone—who has the opportunity—to be vaccinated. For their own health and to protect others.”