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Moderna Will Charge Around $130 for its COVID Vaccine — and Congress Isn’t Too Happy
MARKETPLACE ^ | Mar 22, 2023 | Kimberly Adams

Posted on 03/27/2023 2:42:16 PM PDT by nickcarraway

Federal Reserve Chair Jay Powell wasn’t the only one in the hot seat in Washington on Wednesday. Stephane Bancel, CEO of pharmaceutical company Moderna, was up on the Hill to testify in front of the Senate Committee on Health, Education, Labor and Pensions.

Members of Congress experienced severe sticker shock and were none too happy about the company’s recent announcement that it’s going to charge about $130 a shot for its COVID-19 vaccine after the national health emergency ends in May.

During the hearing, Sen. Bernie Sanders, an independent from Vermont, highlighted billions of dollars the U.S. government spent to help develop and roll out Moderna’s extremely profitable mRNA-based vaccine.

“This vaccine would not exist without [the National Institutes of Health’s] partnership and expertise and the substantial investment of the taxpayers of this country,” Sanders said.

The $130 refers to the list price of the vaccine, which is something of a starting point for negotiations, according to Richard Hughes, a partner at the law firm Epstein Becker Green. He was a Moderna executive until about a year ago.

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“No American who is not a health insurance company is going to see a $130 price tag for this vaccine,” he said, adding that government or private insurance will still cover the cost for most people.

“The government will continue to receive a very low price. And companies do negotiate discounts with payers,” he said.

Even so, when insurers pay more, so do their customers and taxpayer-funded programs like Medicare and Medicaid. Andrea Ducas, a senior program officer with the Robert Wood Johnson Foundation, said plenty of others are affected too.

“There’s still about 30 million people who don’t have health insurance,” she said. “And for those folks, they would be … unless there’s a patient assistance program, expected to pay out of pocket.”

Moderna’s Bancel said Wednesday that the company would ensure that anyone who wants a vaccine will be able to get one without cost being a barrier.

Additional reporting by Trina Mannino.


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: congress; donatefreerepublic; moderna; vaccine
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To: nickcarraway

When the “national emergency” ends, I wonder if the hospitals will get reimbursed their thousands of dollars from the government for treating Covid victims?


21 posted on 03/27/2023 3:12:26 PM PDT by ducttape45 (Proverbs 14:34, "Righteousness exalteth a nation: but sin is a reproach to any people.")
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To: nickcarraway

What is the real creator’s cut?

Can I assume BigPharma’s favorite BigGuy, Trump, gets 10%?


22 posted on 03/27/2023 3:12:50 PM PDT by BuddhaBrown (Path to enlightenment: Four right turns, then go straight until you see the Light!)
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To: Dandy

I think that’s the government price.


23 posted on 03/27/2023 3:14:41 PM PDT by griswold3 (Truth, Beauty and Goodness ; Quos Deus vult perdere, prius dementat)
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To: nickcarraway

Yeah, Congress is pretending to be unhappy about it. Behind the scenes they’re all buying more Moderna stock.


24 posted on 03/27/2023 3:18:30 PM PDT by AnglePark (My opinion is the most worthless thing I own...)
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To: nickcarraway

How can they offer it for sale. It’s not an FDA approved vaccine. As such it can’t be sold, it can only be mandated by the FEDGOV.


25 posted on 03/27/2023 3:18:44 PM PDT by wgmalabama (Censored!)
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To: nickcarraway

The billions that were flowing into the Moderna coffers has slowed to a mere trickle of millions...and now must boost the price of the jab.


26 posted on 03/27/2023 3:40:17 PM PDT by moovova ("The NEXT election is the most important election of our lifetimes!“ LOL...)
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To: nickcarraway

Moderna stock is to the moon already.


27 posted on 03/27/2023 3:44:36 PM PDT by entropy12 (Food is most popular anxiety drug, exercise is the least popular.)
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To: nickcarraway

This was announced in late Dec or early Jan—

Why the surprise now???

Family of 4==$520 etc.


28 posted on 03/27/2023 3:46:18 PM PDT by ridesthemiles
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To: Sacajaweau

Not enough.


29 posted on 03/27/2023 3:51:50 PM PDT by nickcarraway
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To: wgmalabama

They claim it’s approved.


30 posted on 03/27/2023 3:53:08 PM PDT by nickcarraway
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To: nickcarraway

Is there really a market for the covid boosters? Most of the vaccinated people I know regret getting it in the first place and have no intention on getting boosted.


31 posted on 03/27/2023 3:56:41 PM PDT by TBall
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To: nickcarraway

JUST SAY NO !!!!


32 posted on 03/27/2023 3:59:52 PM PDT by Tennessee Nana
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To: TBall

Collect them all.


33 posted on 03/27/2023 4:01:24 PM PDT by nickcarraway
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To: nickcarraway

So can they now be sued for damages?


34 posted on 03/27/2023 4:04:57 PM PDT by cp124 (80% of everything is fake or a lie.)
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To: cp124

No, by U.S. law, no maker of a vaccine can be sued.


35 posted on 03/27/2023 4:07:57 PM PDT by nickcarraway
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To: nickcarraway

Just no Kevin. Hell no.


36 posted on 03/27/2023 4:17:19 PM PDT by AndyJackson
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To: nickcarraway

I don’t care if it’s “free”, I’m not taking the needle.


37 posted on 03/27/2023 4:49:18 PM PDT by AlaskaErik (There are three kinds of rats: Rats, Damned Rats, and DemocRats.)
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