AstraZeneca to start selling COVID-19 Vaccine doses for profit

*The pharmaceutical giant says it will increase the price of its Coronavirus Vaccine, in 2022, to produce for profit

Emmanuel Akosile | ConsumerConnect

Drugmaker AstraZeneca had pledged to make initial sales ‘at cost’, when it initially rolled out its vaccine for vaccination against the disruptive Coronavirus (COVID-19) pandemic.

The pharmaceutical giant, however, has disclosed that it will increase the price of the vaccine in 2022, in order to produce for profit, agency report said.ConsumerConnect, however, learnt that Americans would not be affected by AstraZeneca’s decision since the vaccine, produced in cooperation with Oxford University, in the United Kingdom (UK), is not used in the United States (US).

The drugmaker’s was the first COVID-19 Vaccine to receive Federal Government’s approval, and has been used widely in countries other than the US.

Pascal Soriot, Chief Executive Officer (CEO) of AstraZeneca, told reporters during a conference call that the company waited until cases of the virus began a worldwide decline before raising the price.

Soriot stated that the company would continue to sell the vaccine at cost to developing countries of the world, according to report.