Moderna CEO Stephane Bancel testifies earlier than Senate on Covid vaccine worth hike

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Moderna CEO Stephane Bancel testifies before the Senate Health Committee Wednesday about the pricing of the company’s Covid-19 vaccine.

The Boston-based biotech plans to charge $130 per dose once the vaccination program moves to the private market as early as this fall. Sen. Bernie Sanders, I-Vt., Chair of the Health Committee, hit out Modern in a letter to Bancel in January, in which he called the price increase “outrageous”.

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After Sanders sent the letter, Moderna said it would create a utility to keep the vaccine free for people who are uninsured or underinsured.

People who have Medicare, Medicaid, or private insurance should still get the shot for free, but Sanders said the price hike “will cost taxpayers billions of dollars.”