SVG Sprites

Moderna news is good, but more needs to be done on pricing

Statement from Margarida Jorge, campaign director for Lower Drug Prices Now, on reports that Moderna’s vaccine is highly effective:


“The news that Moderna’s vaccine, which is 100% funded by taxpayers according to the company, is highly effective is exciting. We look forward to the peer reviewed studies to confirm the findings. In the meantime, lawmakers should ensure that our significant taxpayer investments result in affordable access to this historic vaccine by passing the MMAPPP Act to end monopoly control over drug prices.

The Trump Administration’s Operation Warp Speed, which is rife with conflicts of interest and secrecy around its government awards to drug corporations, funneled nearly $2.5 billion to Moderna over the last year its first-ever vaccine. Currently, Moderna has zero products on the market, but its executives and insiders have already made hundreds of millions from stock speculation about the new vaccine that would be impossible without taxpayers’ substantial investments.

At same time, the Trump Administration has refused to guarantee that this vaccine or any other publicly funded medicine will be affordable, opting instead to give drug corporations monopoly control to set prices. As a result, Americans are likely to end up paying twice for our medicines.

We hope that the Biden Administration will learn from the previous administration’s mistakes by increasing transparency, accountability and accessibility in Operation Warp Speed. President-Elect Biden should make passing the MMAPPP Act a part of his COVID relief and recovery plan on Day One to start getting the nation back on track.”



Operation Warp Speed awards to Moderna for COVID vaccine: $2.46 billion ($1.5 billion + $955 million) 

Pandemic profiteering:

  • Since January, Moderna executives have sold more than $200 million in stocks, benefiting from just the rumors of a vaccine prompting former SEC officials to call Moderna’s stock sales “highly problematic” and caution from one official about dumping stock after speculation surges.
  • Moderna stock prices grew more than 300% in just five months to almost $30 billion at the end of May, making Moderna one of the most valuable biotech businesses.
  • On Monday, July 27th, Moderna stocks increased 11.3% following the announcement of $472 million in funding from BARDA.

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