Bernie Sanders Holds a Moderna Show Trial

The Vermont socialist is upset the company may make a profit on its Covid vaccine 

WSJ editorial. Excerpts:

"Early in the Covid pandemic, Moderna received $900 million from OWS for trials to test its mRNA vaccine in partnership with the National Institutes of Health."

"Mr. Sanders claims that taxpayers paid to develop Moderna’s Covid vaccine, and the government thus should be able to dictate its price. That’s nonsense. Before the pandemic, Moderna developed its novel mRNA platform with $3.8 billion in private investment. In spring 2020, it raised another $1.3 billion in private capital to scale up manufacturing. 

If not for the Moderna-OWS cooperation, the vaccine rollout would have been much slower. Moderna’s vaccine has proven more durable and protective against severe illness than Pfizer’s in real-world studies. Yet the Administration has consistently paid Pfizer $3 to $4 more per dose. As a result, Pfizer has received more than a billion dollars more from the government than Moderna.  

Yet progressives are targeting Moderna as “a poster child for corporate greed,” to quote Mr. Sanders, because they believe this advances their view that pharma companies profit from government innovation and support. The truth is closer to the opposite."

"Biden officials hail the benefits of Covid vaccines and boosters. If they are as effective as public-health officials say, then the benefits from reducing hospitalizations among the elderly would more than exceed the new higher price."

"Moderna’s price will be lower than for such vaccines as GSK’s shingles shot ($183) or Merck’s pneumonia vaccine ($216)"

"Under the Affordable Care Act, Americans with private insurance won’t have to pay a penny out-of-pocket for the vaccines. Moderna will also offer free vaccines to the uninsured."