Market participants were surprised with the news that Pfizer Inc and Moderna Inc had raised the prices of their COVID-19 vaccines in their latest European Union supply contracts. An increase in the price has taken place amid a rapid spread of the new Delta variant across Europe. In Spain, there have been lots of cases of Delta variant. So, the country desperately needs the vaccine.
Currently, the new price of Pfizer's shot is €19.50 (an increase of 26%) and of the Moderna shot is now €21.50, a 13% rise.
Matrix RNA vaccines have shown high efficiency compared to cheaper analogs of AstraZeneca and Johnson & Johnson. Rich countries are sure to purchase enhanced drugs for their population. In addition, next year, demand for RNA vaccines is projected to continue to grow since states have to revaccinate the citizens. Besides, it is unknown how many new strains will appear. Many experts are confident that humanity should brace for new strains in the foreseeable future.
The revenue of both drug makers may soar even higher. According to Pfizer’s quarterly report, revenues from the sale of its vaccine in the first half of the year amounted to $11.3 billion. Taking into account the results of the entire 2021 year, this indicator may surge to $33.5 billion.
Luckily, the EU can afford the vaccine even after the price increase. In May, the EU stressed that it would receive more than a billion doses of vaccines by the end of September from the drugmakers.
