- According to the World Health Organization, 164 coronavirus vaccine projects are in progress.
- Pfizer is working with European pharmaceutical company BioNTech to develop a coronavirus vaccine to be made available in the fall for emergencies.
- Legislators are asking companies to sell their vaccines at cost price.
- Pfizer's CEO recently defended companies that are profitable from vaccines.
- You can find more stories on the Business Insider homepage.
With coronavirus vaccine candidates continuing their studies before receiving FDA approval, Pfizer CEO Albert Bourla doesn't think the companies that develop them shouldn't benefit.
"I think it's very wrong," said Bourla Barrons on Tuesday. "The private sector has found the solution for diagnostics … and is on the way to finding further solutions for therapeutics and vaccines."
Phase 3 trials with Pfizer’s vaccine candidates started this week. According to Bourla, the vaccine is "meticulously executed".
When approved for emergencies, Pfizer sends 100 million doses for use by the U.S. government. The U.S. government will pay $ 1.95 billion for these cans, which is approximately $ 19.50 per shot.
Pfizer isn't the only company hoping to have a vaccine ready by fall.
AstraZeneca / Oxford and Moderna are also on the right track to have their vaccines ready for emergencies. People at high risk of contracting the virus, including healthcare professionals and the elderly, may receive the vaccine if the FDA approves it for this use.
There are no solid numbers on how much a company can make with a coronavirus vaccine when it hits the market.
Rep. Jan Schakowsky-Ill. Companies that have received government support for the development of the coronavirus vaccine are asked to sell the vaccine at cost price; according to NPR. Although responses have varied, it should be noted that Pfizer has used no government funds to develop its vaccines.
"During the pandemic, we only chose the price, which is the lowest end of everything that exists," Bourla said in the interview. "It's a fraction of what high-tech vaccines are sold for in the United States."
AstraZeneca has sought to sell its vaccine to the government at no profit, while Johnson & Johnson will sell its vaccine at a price "nonprofit price" for an emergency pandemic.
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