COVID-19 for Profit

Two of the largest producers of COVID-19 vaccines have hiked their prices up by a quarter in their latest deals with the European Union.

Pfizer is currently offering a single dose of its vaccine for €19.50 ($23) – which is €4 higher than the last deal it struck with Brussels.

Meanwhile, Moderna has raised the price of its own vaccine to €21.50, which is up from €19.

The data, which was obtained by the Financial Times, showcased the vast profits that the two companies are currently making on the jabs.

AstraZeneca, the third major vaccine producer, doesn’t sell its jabs for profit, while Sputnik V, backed by the Russian government, has yet to receive approval from the European Medicines Agency.

Pfizer is currently on track to make $33.5 billion in revenues this year alone, while Moderna is forecast to make $19.2 billion.

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