Moderna CEO brazenly defends 400% COVID shot price hike, downplays NIH’s role

Enlarge / Moderna CEO Stephane Bancel testifies before the Senate Health, Education, Labor, and Pensions Committee in the Hart Senate Office Building on Capitol Hill on March 22 in Washington, DC. Getty | Chip Somodevilla

In Congressional testimony Wednesday, Moderna CEO Stéphane Bancel unabashedly defended the company’s plans to raise the US list price of its COVID-19 vaccines by more than 400 percent—despite creating the vaccine in partnership with the National Institutes of Health, receiving $1.7 billion in federal grant money for clinical development, and making roughly $36 billion from worldwide sales.

Bancel appeared this morning before the Senate’s Health,

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