Pfizer Vaccine Co-Developer "Priced Below Market Rate"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] German biotech company BioNTech, which is developing a COVID-19 vaccine together with the U.S. pharmaceutical company Pfizer, announced that it plans to set the vaccine price below market rates and differentiate prices by country.

Ryan Richardson, Head of Strategy at BioNTech, stated at an online event hosted by the UK Financial Times, "We plan to set the vaccine price below market rates to ensure accessibility is widely secured worldwide."

He added, "Prices will vary by region globally."

However, specific prices were not mentioned.

Pfizer announced the previous day that analysis of 94 participants in the Phase 3 clinical trial of the COVID-19 vaccine showed a prevention effect in over 90% of them.

This announcement has increased expectations for the end of COVID-19, but long-term safety and efficacy have not yet been fully proven.

Earlier, it was reported that the cost per person for the Pfizer vaccine supplied to the U.S. would be $39 (approximately 47,000 KRW), which is not significantly different from the price of the flu vaccine.

This content was produced with the assistance of AI translation services.