Why Moderna Stock Rallied Today
Shares of Moderna (NASDAQ: MRNA) jumped 8.4% on Friday after rival drugmaker Pfizer (NYSE: PFE) said it intends to drastically increase the price of its COVID-19 vaccine next year.
Pfizer is seeking to charge as much as $130 per dose, up from the $30.50 per shot it currently receives from the U.S. government. The pharmaceutical giant is currently in talks with health insurers to determine the final price of the drug, according to The Wall Street Journal.
The news gave investors better insight into the potential revenue vaccine makers could generate once the industry transitions from a public-health emergency to a commercial market for COVID-19 drugs. Pfizer's proposed prices were significantly higher than many analysts expected, so several investment firms boosted their sales estimates for both Pfizer and Moderna.
Source Fool.com
