Arab Press

بالشعب و للشعب
Friday, Mar 29, 2024

Vaccine business: The days of free vaccines may soon end in the U.S.

Vaccine business: The days of free vaccines may soon end in the U.S.

The U.S. government is planning to stop paying for COVID-19 vaccines and treatments, and shift the bill onto the health care industry and eventually the consumer—possibly making it one of the first countries to end the practice of giving out coronavirus vaccines for free.

The Department of Health and Human Services will hold a planning session on Aug. 30, the Wall Street Journal reported, to bring together representatives from the health care industry as well as state health departments, to discuss the commercialization of COVID-19 treatments.

The move comes a few days after White House COVID-19 Response Coordinator Dr. Ashish Jha confirmed on Tuesday that the Biden Administration had taken steps to get past the crisis phase of the pandemic and stop buying vaccines, treatments, and tests as early as fall.

“One of the things we’ve spent a lot of time thinking about in the last many months…is getting us out of that acute emergency phase where the U.S. government is buying the vaccines, buying the treatments, buying the diagnostic tests,” Jha said at an event sponsored by the U.S. Chamber of Commerce Foundation.

“My hope is that in 2023, you’re going to see the commercialization of almost all of these products. Some of that is actually going to begin this fall, in the days and weeks ahead,” Jha said.

It was always the plan under both the Trump and Biden administration to push the pricing and coverage control of COVID-19 vaccines and treatments onto the healthcare industry.

As COVID cases drop and the pandemic response funding runs short, the U.S. is determined to privatize COVID-19 treatment by the end of the year.

“We’ve known at some point we’d need to move over into the commercial market, and we’re approaching that time now,” Dawn O’Connell, assistant secretary at HHS for preparedness and response, told the WSJ.


How it will work


The move to shift payments for COVID-19 drugs to the commercial market may still take months.

At the upcoming HHS meeting, company representatives and officials still need to discuss reimbursement and coverage, as well as regulatory, market dynamic, and equity issues.

Insurers and pharmacy benefit managers negotiating with drug manufacturers means prices would rise higher than what the federal government paid.

With each insurer paying for the vaccine, premiums are also likely to rise for the consumer, Larry Levitt, executive vice president for health policy at the Kaiser Family Foundation, told the WSJ.

“Without the government purchasing vaccine doses in advance, the U.S. may fall behind other countries in getting quick access to boosters and new variant-specific vaccines,” Levitt said.

A key point of the meeting will be discussing how the 30 million uninsured Americans will access COVID-19 resources.

“Right now everybody can walk into CVS and get a vaccine. I want to make sure when we make this transition, we don’t end up in a point where nobody can get a vaccine because we didn’t get the transition right,” Jha said at the event on Tuesday.

The move also might create a challenge for those suffering from long COVID, which is known to increase the risk of cognitive deficit (also known as brain fog), psychotic disorders, and epilepsy for two years after a COVID diagnosis, according to a study published in The Lancet Psychiatry on Wednesday.


Wrestling for funding


The Biden administration asked Congress in April for $10 billion to fund the ongoing pandemic response efforts. After failing to persuade Congress, White House officials said they would have to repurpose federal COVID-19 funds to supply more antiviral pills and vaccines.

As funding in government faltered, pharmaceutical companies have been eagerly watching the situation, as commercialization of COVID-19 treatments could bring a windfall worth billions of dollars in profits.

The 10 largest pharmaceutical companies by revenue brought in a collective $734.8 billion in revenue and $130.6 billion in profits in 2021, according to the 2022 Fortune Global 500, from the 12.2 billion doses that have been administered globally as of July 17.


Comments

Oh ya 2 year ago
First off there is no FREE. Someone paid for those clot shots and it was the taxpayers of the USA. But at least now you have to pay for your own suicide shot.. Maybe after booster 86 if you are not dead you will realize that they do not work, but you likely won't live that long. If you have had 2 shots and 2 boosters you likely don't have 3 years left

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
China Criticizes US for Vetoing UN Ceasefire Resolution in Gaza
Saudi Arabia ranks first in UN index for e-government services in MENA
Israel Records 20% Drop In GDP, War In Gaza Is The Reason
Saudi Arabia's FDI Inflows Grow with New International Standards
Venture Capitals Power Up Across MENA Region
PM Modi Announces Opening Of New CBSE Office In Dubai
January Funding for MENA Startups Totals $86.5 Million
Saudi Arabia accelerates digital economy growth through Nvidia partnership
Israel unveils tunnels underneath Gaza City headquarters of UN agency for Palestinian refugees
Israel deploys new military AI in Gaza war
Egypt threatens to suspend key peace treaty if Israel pushes into Gaza border town, officials say
Saudi Arabia Warns Of A "Humanitarian Catastrophe" If Israel Moves On Rafah
US University To Shut Qatar Campus Due To "Heightened Mideast Instability"
Facebook and Instagram Ban Iran's Supreme Leader
Defense Technology Showcase Held in Riyadh
Saudi Arabia’s non-oil exports rise 2.5% to $6bn in November 2023: GASTAT
Rolls-Royce Executive Encourages Saudi Women to Tap into Their Inner 'Superhero' for Success in Defense Industry
Saudi Arabia launches National Academy of Vehicles and Cars
Saudi Tourism Minister Reveals Plan for 250,000 New Hotel Rooms by 2030
SAR to more than double eastern network passenger capacity with new trains deal
Saudi Arabia Enhances National Defense with New Partnerships
Saudi Aramco Maintains Arab Light Crude Pricing to Asia for March
NEOM Establishes New York Office to Support Investors
Saudi Wealth Fund Draws in Over $25 Billion Worth of Investments in Three Years, Al-Rumayyan Reveals
The Saudi Kingdom's Ultimatum to Israel: A Win-Win Peace with Saudi Arabia and the Arab World, or a Lose-Lose Continued Occupation and Endless Conflict
Biden condemns anti-Arab hate after WSJ opinion piece calls Dearborn ‘jihad capital’
Turkey Releases Seven Hostages Captured by Pro-Gaza Gunman
Arab Parliament Commends Women's Contributions to Societal Development
British and Hungarian Foreign Ministers visited Lebanese leaders to stress the importance of enacting UN Resolution 1701
Yemen's Houthis Say They Targeted British Merchant Vessel In Red Sea
Donald Trump Nominated for Nobel Peace Prize for 'Historic' Middle East Policy
US lawmakers approve F-16 jet sale to Turkey following NATO expansion support
Saudi Arabia Climbs 25 Places in World Bank's National Statistics Indicator
Tourism Growth in Saudi Arabia Fuels Advancements in the Hospitality Industry," Says Rotana Official
Houthi Rebels Request Departure of UN Staff from Yemen, Including US and UK Personnel, within a Month
Modi Inaugurates Hindu Temple on Site of Demolished Mosque in India
Over 25,000 Deaths in Gaza Amid Israeli Offensive
Escalating Clashes in Gaza as Israel Distributes Leaflets to Assist in Locating Hostages
Turkey's First Astronaut Set to Launch for International Space Station Today
Head of Palestinian Investment Fund Warns More People May Die of Hunger Than War in Gaza
Palestinian Envoy Criticizes UK for Alleged 'Double Standards' in Policies Toward Israel
Morocco to Lead UN Human Rights Council in 2024
Is artificial intelligence the solution to cyber security threats?
Egypt has been identified as the leading military force among Arab nations and ranks 15th globally
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Iranian Nobel Laureate Narges Mohammadi Receives Additional Prison Sentence
"Gazans Urge Israeli Forces to Target Hamas in Leaked Audio"
Biden States US and UK Airstrikes on Houthis Were a 'Defensive Action
Large Pro-Palestine Rally in London as Gaza Conflict Hits Day 100
South Africa Urges World Court to Halt Israeli Actions in Gaza
×