It can cost $1 billion to fund the research and development of a new vaccine, according to a 2018 study published in Lancet, a peer-reviewed medical journal. On top of which, after months of testing, there is a 94% chance of failure, according to the authors of the study. Because of this, vaccine manufacturers often accept federal funding which allows the government to have a say in terms of pricing it.
So far, the government has pledged $1 billion for coronavirus vaccine research, Azar said.
“We would want to ensure that we work to make it affordable, but we can’t control that price because we need the private sector to invest,” Azar said before the House Energy and Commerce Committee on Wednesday. “The priority is to get vaccines and therapeutics and price controls won’t get us there.”
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Huh?
So far, the government has pledged $1 billion for coronavirus vaccine research, Azar said.
“We would want to ensure that we work to make it affordable, but we can’t control that price because we need the private sector to invest,” Azar said before the House Energy and Commerce Committee on Wednesday. “The priority is to get vaccines and therapeutics and price controls won’t get us there.”
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Huh?