Bernie Sanders pressed Stephane Bancel during the Senate hearing to make a commitment that Moderna will not increase the vaccine's list price to $130.
CEO Stephane Bancel on Wednesday defended the company's plans to hike the price of its Covid shots fivefold, deflecting pressure at a Senate hearing to abandon the hike while taking barbs over his compensation.
"Quadrupling the price is huge," Sanders told Bancel. "I would hope very much you would reconsider that decision. It's going to cost taxpayers of this country billions of dollars. Is that something you can do?" "To protect people, we need to make more than we think is going to be needed. We are going to have to pay for it," Bancel said.
Sanders accused Bancel of "profiteering" and "excessive CEO compensation" during his opening remarks. The senator later told Bancel the public doesn't understand why Moderna is quadrupling the price of the vaccine when the company and its executives have made so much money.
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Watch live: Moderna CEO Stephane Bancel testifies before Senate on Covid vaccine price hikeThe Boston biotech company plans to charge $130 per dose once the vaccination program moves to the private market as early as this fall.
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LIVE: Moderna CEO Stéphane Bancel testifies on potential Covid vaccine price hike — 3/22/23The U.S. Senate Committee on Health, Education, Labor and Pension holds a hearing on Moderna's potential price increase of the Covid-19 vaccine. Witnesses in...
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Moderna CEO faces Sen. Sanders in COVID-19 vaccine pricing hearing WednesdayModerna’s CEO defended the company’s plan to quadruple the price of its COVID-19 vaccine to $130, similar to what Pfizer is predicted to price its vaccine. The U.S. government paid about $30 per dose from Moderna.
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Moderna CEO defends COVID vaccine price hike, citing pivot to endemic phaseModerna is hiking the price of its COVID-19 shot because it faces “increased complexity and risk” as the pandemic stabilizes and the life-saving vaccine pivots from a government-funded product to a commercial one, CEO Stephane Bancel told Congress Wednesday in a Senate hearing on what taxpayers are owed after they support critical medicine.
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Moderna expects to price its COVID vaccine at about $130 in the USModerna Inc expects to price its COVID-19 vaccine at around $130 per dose in the U.S. going forward as purchases move to the private sector from the government, the company’s president Stephen Hoge said in an interview on Monday.
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Moderna Expects to Price Its COVID Vaccine at About $130 in the USModerna expects to price its COVID-19 vaccine at around $130 per dose in the US going forward as purchases move to the private sector from the government, the company’s president Stephen Hoge said in an interview on Monday.
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