Moderna will offer its Covid scans for free to the uninsured, the company announced.
It comes amid mounting pressure on the biotech giant not to raise the price of its taxpayer-funded Covid injection – a decision first reported by DailyMail.com.
The company planned to quintuple the price of its vaccine to match rival Pfizer, meaning those without insurance would have to pay about $130 to get the bite.
The government will stop offering free Covid vaccines from 11 May when the public emergency ends.
Moderna still plans to raise the shot’s commercial price when it hits the open market, meaning policyholder premiums will continue to rise across the board.
Americans who are uninsured or underinsured can continue to receive Moderna’s Covid vaccine for free starting May 11
The government currently pays Moderna about $26 per dose of the vaccine, which is estimated to cost the biotech just $1.18.
In a statement issued yesterday, the company said it will ensure that those who are uninsured or underinsured can continue to get their Covid vaccination for free.
It read: “For the uninsured or underinsured, Moderna’s patient assistance program makes available free Covid vaccines.
Bernie Sanders to cross-examine Moderna CEO on his plans to raise the price of his Covid injection next month
“Everyone in the United States will have access to Moderna’s Covid vaccine, regardless of ability to pay.”
For those with health insurance, the insurance premiums take over the price increase.
That means Americans won’t actually be paying out of pocket, but the company’s price hike will push up premiums everywhere.
Covid vaccines have been free for Americans throughout the pandemic, regardless of their insurance status.
This is thanks to Operation Warp Speed, which was launched in the early weeks of the pandemic to speed up the development of Covid vaccines and treatments.
The Trump administration has donated more than $12 billion to biotechs including Moderna, Janssen and Novavax to shorten the timeline for a viable vaccine.
CDC adds Covid shots to list of routine vaccines for children and adults
Officials said the move would “normalise” the vaccine and “send a strong message” that everyone over the age of six should stay up-to-date on their Covid vaccines.
Moderna, a Massachusetts biotech startup, has signed several deals with the federal government worth more than $2.4 billion in the first year of the pandemic.
In July 2022, the US government awarded a $1.74 billion contract to secure more than 65 million additional doses of Moderna’s Covid vaccine, bringing the total number of injections received to more than 560 million .
When it runs out, negotiating the cost of the vaccine will soon be left to insurance companies and private buyers — in the absence of the federal government buying extra doses at a fair price.
The subsidized injections are so far free for all Americans, regardless of whether they have health insurance.
Senator Bernie Sanders will question Moderna CEO Stéphane Bancel during a Senate hearing next month about his decision to raise the price of the Covid vaccine.
Senator Sanders previously accused the biotech company of “unacceptable corporate greed” in a letter to Bancel.
He argued that raising the price of the injection was particularly offensive since the US government had appropriated more than $2 billion in taxpayer dollars to finance the development of the vaccine.
Moderna posted an estimated profit of $39 billion last year, with Covid vaccine sales of about $18.4 billion.
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Crystal Leahy is an author and health journalist who writes for The Fashion Vibes. With a background in health and wellness, Crystal has a passion for helping people live their best lives through healthy habits and lifestyles.
