- Moderna Inc will no longer have the economies of scale it had in government procurement when its COVID-19 vaccine moves into the private market, Chief Executive Officer Stephane Bancel told lawmakers on Wednesday at a Senate committee hearing as he defended the company's plan to quadruple the price of the shots.
The company's announcement to raise the price to around $130 per dose has drawn ire from lawmakers, especially Democratic U.S. Senator Bernie Sanders, who chairs the committee and has long demanded lower U.S. drug prices.
(Reporting by Sriparna Roy and Leroy Leo in Bengaluru and Patrick Wingrove in New York)