Price of promising Covid-19 vaccine to vary in countries and regions

Price of promising Covid-19 vaccine to vary in countries and regions

- The COVID-19 vaccine which is being developed by Pfizer/BioNTech would be sold at different prices between countries

- According to the manufacturer, the pricing of the vaccine is expected to be different in certain regions of the world

- Following the situation globally, the company plans to price the vaccine well below typical market rates

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A report by Reuters indicates that the working coronavirus vaccine developed by Pfizer/BioNTech would be sold at different prices between countries and regions.

The news media reported that BioNTech, the first to produce an effective vaccine against the novel virus is planning to put the price of the serum below typical market rates.

Ryan Richardson, the head of strategy for the biotech firm made this known while speaking at a Financial Times online event.

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Price of Pfizer/BioNtech coronavirus vaccine to vary in countries and regions

The price of the coronavirus vaccine is expected to vary in countries and regions. Photo credit: Nairametrics
Source: UGC

According to Richardson, the price tag of the vaccine would reflect the financial risks that investors have incurred.

The head of strategy declined to make further comments on the different price tags of the vaccine which is yet to win regulatory approval.

He said:

“We’ve tried to pursue a balanced approach that recognises that innovation requires capital and investment so we plan to price our vaccine well below typical market rates reflecting the situation that we’re in and with the goal to insure broad-based access around the world.”
“I expect there to be differential pricing in certain regions of the world.”

Earlier, Briefly.co.za reported that a vaccine being developed by Pfizer/BioNTech against the novel virus is insight. The manufacturers' announcement of the first interim results in large-scale trials shows the vaccine, which is in its phase 3 trial, is 90% effective.

An analysis of the vaccine shows a much better performance than most experts had hoped for. The company also said findings have shown that the vaccine does not have serious side-effects.

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Relevant regulators have said they would approve a vaccine that is just 50% effective.

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Source: Briefly.co.za

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