The Progressive


A project of Common Dreams

For Immediate Release

Frances Leach

Statement on Moderna Q3 Results


Statement from executive director Nick Dearden:

"Moderna's jaw-dropping admission that it will hike the price of its Covid-19 vaccine despite already making billions of profits from it shows our pharmaceutical system is out of control. Moderna has become a cash machine, pulling wealth from a publicly researched medicine into the pockets of its wealthy shareholders with only a passing interest in saving lives.

There is no moral basis for massive price hikes on an existing and already highly profitable drug; it is simply a corporation exploiting a legal framework that serves its interests. No wonder Moderna is tied up in numerous legal cases to cement its monopoly on mRNA technologies at the expense of ordinary people around the world. Today, yet again, Moderna has shown that this model of producing medicines is very good for the super-rich, but disastrous for global public health."

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