AstraZeneca stops selling non-profit vaccines

AstraZeneca intends to make “modest profits” with commercial contracts for the supply of new Covid-19 vaccines, rather than maintaining a non-profit model.

In a statement issued on November 12, the British-Swedish pharmaceutical company AstraZeneca said it “is intending to gradually convert to a modest profit on receipt of new vaccine orders”, adding that the profit ” limited” from the vaccine in the fourth quarter will be used to offset the costs associated with the antibody mixture developed to prevent and treat Covid-19.

AstraZeneca CEO Pascal Soriot emphasized that they are offering affordable prices and on many levels, depending on the ability of each country to pay. According to him, the Covid-19 vaccine developed by AstraZeneca in collaboration with the UK’s Oxford University will not become “a huge source of profit”.

The AstraZeneca vaccine is prepared at an injection clinic in France on March 12.  Photo: AFP.

AstraZeneca’s Covid-19 vaccine is prepared at an injection room in France on March 12. Photo: AFP.

AstraZeneca’s Covid-19 vaccine revenue in the third quarter was $1.1 billion, much lower than Pfizer’s $13 billion and Moderna’s $4.8 billion. The company also posted a net loss of $1.65 billion in the third quarter compared with an after-tax profit of $651 million in the same period last year, partly due to increased research and development costs for many programs, including the Covid-19 treatment.

AstraZeneca has committed to selling vaccines at full cost during the pandemic and is charging about $5 a dose. However, Soriot said that people “have to accept that Covid-19 is becoming an endemic disease”. “We’re going to have to learn to live with it, which means the ability to have frequent booster shots,” explains the CEO of AstraZeneca.

Soriot also said he has “no regrets” because of the non-profit model that AstraZeneca once maintained, while other vaccine companies reap large profits. “We are all incredibly proud of the impact AstraZeneca has made. We have saved a million lives and millions of lives from the risk of hospitalization,” he said.

As of the end of September, AstraZeneca had provided more than 145 million doses of the Covid-19 vaccine to low- and middle-income countries through the World Health Organization (WHO) Covax mechanism, accounting for half of the supply of Covid-19 vaccines. Covax. The number is expected to increase to 250 million doses by the end of the year. AstraZeneca is committed to continuing to provide vaccines to the poorest countries at cost prices.

Luster (Follow Guardian, AFP)

.

Leave a Comment