Senate health committee chair Bernie Sanders (D-VT) and Moderna CEO Stéphane Bancel (Tom Williams/CQ Roll Call via AP Images)

Mod­er­na CEO de­fends Covid-19 vac­cine price change at Sen­ate com­mit­tee grilling

Mod­er­na CEO Stéphane Ban­cel faced a bar­rage of ques­tions from the Sen­ate health com­mit­tee on Wednes­day but emerged most­ly un­scathed as he de­fend­ed the qua­dru­pling of the price of the com­pa­ny’s block­buster Covid-19 vac­cine in the US, from about $26 per dose to $130 per dose.

What’s be­hind that rise in price, many sen­a­tors on both sides of the aisle ques­tioned, and Ban­cel of­fered a va­ri­ety of rea­sons. First and fore­most, the com­pa­ny is ex­pect­ing a 90% re­duc­tion in de­mand for its vac­cine next fall, when the FDA is like­ly to roll out an­oth­er boost­er cam­paign to fight Covid-19.

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