The COVID-19 vaccine will cost hundreds of millions of dollars to produce, but will the coronavirus vaccine be free for Americans to take?
For those in the U.S., it looks likely that patients with insurance might not have to pay when they get the COVID-19 vaccine. Jason Schwartz, an assistant professor of health policy at Yale, told Marketplace that some Americans also probably wouldn’t have to pay for the vaccine under the Affordable Care Act.
Additionally, several organizations, like Johnson & Johnson, working on a COVID-19 vaccine have said they want their vaccine to be accessible by the public. Pfizer and BioNTech recently partnered with the federal government on the creation of 100 million doses of their vaccine, according to USA Today. Once the companies obtain approval or emergency use authorization from the U.S. Food and Drug Administration, they can distribute those 100 million doses free of charge to the public.
The government purchased the 100 million doses for $2 billion, which factors out to be $39 for the two-dose course of treatment. Reuters reported this is the first deal that has outlined a specific price for a vaccine.
Analysts told Reuters that the low cost of the vaccines developed by Pfizer and BioNTech would pressure other organizations to set comparable prices.
Overall, experts now hypothesize the COVID-19 vaccine would not cost Americans more than the flu shot. Which is good news for those who were flabbergasted when it was announced that remdesivir, the antiviral drug that can help coronavirus patients recover faster, would cost $520 for a single vial or $3,120 for a hospital treatment (though that probably would be covered mostly by insurance).
“The average price for a flu vaccine is around $40,” Peter Pitts, president and co-founder of the Center for Medicine in the Public Interest, told Reuters. “It looks good with that comparison. It’s well within the ballpark of reasonableness.”
So, either the coronavirus vaccine will be free for Americans or will be relatively inexpensive. In these tough economic times, that should provide some welcome relief.
Read more on the coronavirus vaccine:
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- The coronavirus vaccine will cost hundreds of millions of dollars to make—here’s why
- Will vaccine nationalism prevent the world from stopping the coronavirus?
- Is North Korea really working on a coronavirus vaccine?
- 30,000 U.S. residents to receive experimental coronavirus vaccine
- If the coronavirus mutates, will a potential vaccine still be effective against it?
- Even a successful COVID-19 vaccine might not end the pandemic
- Until now, what’s the quickest a vaccine has ever been developed?
- When a COVID-19 vaccine comes out, who will have first priority?
- The immunity provided from a coronavirus vaccine might only be temporary