According to the latest news, the United States government has set a benchmark price for the COVID-19 vaccine. It set the benchmark in a $2 billion deal signed with the New York’ based Pfizer and German BioNTech. Through the deal, the US will ultimately purchase about 100 million doses of an effective vaccine. The latest report suggests that the COVID-19 vaccine will cost $20.
Prior to this too, the US and other governments around the world have signed agreements with pharmaceutical companies. The agreements are basically to support the Coronavirus vaccine development programs. And also included guaranteed delivery of millions of vaccine shots. But this agreement signed between Pfizer and BioNTech is the first deal since the work started on COVID-19 vaccine development that has outlined a specific cost for an effective vaccine.
In the details of the agreement is given that each pharmaceutical company will be responsible to produce and deliver 50 million doses of COVID-19 vaccines. The vaccines will be delivered once it is approved after clinical trials to the US government.
COVID-19 vaccine will cost $20
The Pfizer and BioNTech COVID-19 vaccine will have a price of about $40. Going towards the details, the COVID-19 vaccine by Pfizer and BioNTech will be a 2-dose course of treatment. It’ll have a price of $20 per dose. President and co-founder of the Center for Medicine in the Public Interest, Peter Pitts says:
The average price for a flu vaccine is around $40 as well. It looks good with that comparison. It is well within the ballpark of reasonableness.
This deal offers a perspective about the likely price of an essential COVID-19 vaccine. It is because it’ll put pressure on the other manufacturers to set similar prices as that of the Pfizer and BioNTech vaccine. It’s very important to produce an effective vaccine that will end the Coronavirus pandemic that has strikes the entire world with a massive loss. But along with that, the governments should also make sure a worldwide fair distribution of the vaccine along with the prevention medicine companies. So that they can make huge profits during a global pandemic situation.
Ayesha Khan is a Content Writer and Digital Marketer at Codematics Inc. She has done her BS in Electronic Engineering. In her free time, you can find her cooking meals, reading books or watching Kdramas. Search for her articles under the hashtag #AKArticle on LinkedIn and Twitter.