Europe to pay less than US for Pfizer COVID-19 vaccine
The EU has struck a deal to initially pay less for Pfizer’s vaccine candidate, an official source tells Reuters.
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Europe to pay less than US for Pfizer COVID-19 vaccine (US pay 19.5 per jab, EU pay less)
- Thread starter SilentPanda
- Start date
- News COVID
Makes sense. They gave financial support for the vaccine's development so this just balances things out.
I know we subsidize defense costs for Europe but I've never heard of us subsidizing medicine for them...
Well the article states that one of the reasons for this is that the EU subsidized the development, so I don't know what to make of your argument.
Also, just because you are getting bent on a lot of things does not necessarily mean that you are subsidizing other countries. You massively overpaying for education as well, does that money go to other countries?
The Military part, I can agree with however.
Makes sense it was mostly developed here in Germany and we helped fund it:
www.bloomberg.com
Pfizer Vaccine’s Funding Came From Berlin, Not Washington
It’s said that success has many authors, and the encouraging data from Pfizer Inc.’s experimental Covid-19 vaccine had plenty of people in Washington lining up to take credit.
www.bloomberg.com
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You realize that Pfizer is "only" doing the testing but the vaccine comes from Germany / Europe, right?
Unlike education pharmaceuticals is easy to track. Look at any of the major big pharma annual reports. Pick your favorite EU Pharma company and pull up their annual report. The revenue numbers are a good indicator of where the bulk of their profits comes from.
EU bought 200 million doses at $19.50 a dose.
US bought 100 million doses at > $19.50 a dose.
Not seeing the issue here. That's how it works. You get cheaper rates with volume. If the US bought more, they would pay less per dose. If they commit to the additional 500 million you can guarantee they will pay less than whatever their agreed to current price is.
US bought 100 million doses at > $19.50 a dose.
Not seeing the issue here. That's how it works. You get cheaper rates with volume. If the US bought more, they would pay less per dose. If they commit to the additional 500 million you can guarantee they will pay less than whatever their agreed to current price is.
You do realize this is not the only vaccine or medicine in history right? We (the US) overpay or are charged several times more for the same medicine that is sold in Europe. Germany for example uses a reference pricing approach which sets a limit for what a drug can cost. That is how they pay 30-40x less for insulin (Novo Nordisk) than we do. That is before all the additional markups.
Based off the responses...literally the very first one. Also people hypothesizing on reasons why such as US health care costs, regional caps on costs, subsidies, etc, etc when it's just economies of scale at work here
No idea what this has to do with this vaccine which was funded from the EU / Germany that we are talking about in this thread.
Yes, if they are allowed to exploit a market they will obviously generate more profit there, but that is not the same as to say that market directly subsidizes another. Looking at Sanofi, it seems that while large amounts of their profit is from the US, their profit margins are also rather high.
Now, I am far from an expert on this, and you seem to know a thing or two, but just because they are making a lot of money off the US, does not mean that their EU business is unsustainable. Why even operate in the market in that case?
