Moderna CEO to testify in senate on proposed vaccine price hike

(Reuters) - Senator Bernie Sanders said on Wednesday Moderna Inc's chief executive officer Stéphane Bancel will testify next month in front of the senate on the drugmaker's plans to raise the price of its coronavirus vaccine.

In January, Sanders had written to Bancel to refrain from quadrupling the price of COVID-19 vaccine, after Moderna said it was considering pricing its vaccine at $110 to $130 per dose in the United States, when it shifts from government contracting to commercial distribution.

The drugmaker, however, had said earlier today insured people could avail the vaccine at no cost at their doctor's office or local pharmacies, once the government mandate to give it for free expires on May 11.

Moderna also added that uninsured patient can buy the vaccine through Moderna's patient assistance program at no cost. Sanders, chairman of the Senate's Health, Education, Labor and Pensions committee, has railed against high drug prices and backed Medicare-for-all. His chairmanship of the HELP committee could put drug companies in his crosshairs.

(Reporting by Khushi Mandowara in Bengaluru; Editing by Krishna Chandra Eluri)