Pfizer
(Image: ABACA Press/Robin Utrecht)

The Pfizer vaccine is costing nations between US$10 and US$19.50 per dose, according to contracts released by nonprofit consumer advocacy organization Public Citizen. 

Nine nations and unions’ contracts have been identified — Albania, Brazil, Colombia, Chile, the Dominican Republic, the European Commission, Peru, the United States and the United Kingdom. The US paid the most, forking out US$1.95 billion for 100 million doses, while Brazil scored the best deal, paying $1 billion for the same number. The EU paid $18.60 per dose. 

Previously it was revealed Isreal paid almost 50% more than the US, shelling out US$30 a dose and becoming the first country in the world to vaccinate the majority of its citizens.

If Australia bought enough Pfizer doses to cover its population and paid the same price as the EU, the cost would have been just under AU$1.3 billion — a fraction of what lockdowns have cost the economy. 

The federal government has provided $507 billion in economic support since the start of the pandemic, with gross debt increasing to $872 billion this year. Recent COVID-19 lockdowns are estimated to have cost the country more than $25 billion.

The cost of Pfizer is low compared to other vaccines. In Australia, the polio vaccine costs $40 per dose, with three shots needed. The chickenpox vaccine costs $80 per dose, and hepatitis B costs $20 per dose. While these vaccines are free for children through the National Immunisation Program Schedule, funded by Medicare, those aged over 20 who weren’t vaccinated as children have to pay full price. 

Health Minister Greg Hunt has been criticized for not scoring a deal with Pfizer despite being approached by company representatives back in June 2020, as COVID-19 plunged Victoria into its 112-day lockdown. 

Modelling shows that, had we scored a deal back then, up to 150 deaths may have been prevented in NSW and Victoria. 2021 lockdowns would have been shorter, with 80% fewer new daily cases and a steep reduction in hospitalisations. 

We’ll never know how much Australia paid per dose, as contracts are commercial in confidence, though it’s likely to be lower than what the US paid thanks to Australia’s Pharmaceutical Benefits Scheme (PBS). Purchasing for the whole country — rather than purchasing for a single state or insurance company — increases our bargaining power. 

Australian drug prices are low by international standards, ranking 11th out of 50 countries for cheapest drugs thanks to the PBS.

Despite the comparatively low price, COVID-19 vaccine manufacturers have been accused of price gouging and profiteering off their products, with one analysis showing Pfizer has been charging up to 24 times the potential cost of production. Wealthier nations were first in line, making early deals for two doses and boosters, creating a monopoly over other parts of the world.