For some customers, Moderna charges between $ 32 and $ 37 per dose for its coronavirus vaccine at cheaper “pandemic prices,” the company said on Wednesday.
The Cambridge, Massachusetts-based company is currently discussing larger volume agreements that will have a lower price, Stephane Bancel, CEO of Moderna, said in a conference call on the company’s second quarter financial results.
“We work with governments around the world and others to ensure that a vaccine is accessible regardless of its solvency,”
Moderna defines a small order for his vaccine as “in the millions,” he said. The price Moderna charges for small orders is above the $ 19.50 per dose that the U.S. drug maker Pfizer and German biotechnology BioNTech have agreed to under a contract with the U.S. government.
Bancel said the price of the vaccine would be “well below the value” during the pandemic. After the virus is under control and classified as endemic, pricing will follow traditional market pricing in line with other commercial vaccines, he said.
“We will work with the market,” said Bancel.
The comments came after the company reported a five-fold increase in sales in the second quarter.
Moderna said it had started discussions with several countries to deliver its potential coronavirus vaccine called mRNA-1273, and had already received approximately $ 400 million in deposits as of July 31. Last week, the company launched a Phase 3 study to test how safe and effective it is. There are 30,000 people expected to see results in October. The company expects to complete registration for the phase 3 trial in September.
The Moderna experimental vaccine, developed with the help of the National Institutes of Health, contains genetic material called messenger RNA or mRNA, which scientists hope will stimulate the immune system to fight the virus.
The company received $ 483 million from the Biomedical Advanced Research and Development Authority in April to help develop vaccines. Last month, it announced that it had received an additional $ 472 million from the US government.
On Wednesday, Moderna had reported a five-fold increase in sales in the second quarter, mainly due to its work with coronavirus vaccines. Revenue for the quarter increased to $ 66.4 million, more than five times the revenue of $ 13.1 million in the same period last year.