Bernie Sanders Shreds Moderna CEO’s Excuse for Vaccine Price Hike: ‘You Guys Became Billionaires, That Doesn’t Seem Too Complex To Me’

Moderna CEO Stéphane Bancel took fire from both sides of the aisle in a contentious Senate hearing on the company’s price increase for the covid vaccine, including more than one grilling from Independent Vermont Senator Bernie Sanders, the committee chair.

Testifying before the Senate Health, Education, Labor, and Pensions Committee on Wednesday, Bancel found no shelter from either party on the subject of the vaccines, with Sanders repeatedly focusing on the big bank accounts of the company’s principals and executives.

In one of the several instances of Sanders taking Bancel to task, he slammed the CEO over the idea that the “complexity” of the company’s situation prevented him being able to promise lower prices for the United States.

“The United States government helped you develop that vaccine. It is a huge consumer. Are you prepared to substantially charge less for the vaccine to the United States government and our agencies?” asked Sanders.

“Given the situation at hand, Mr. Chairman, we have no idea of the volume that will needed this year,” Bancel answered. We have very increased complexity.”

“You have complexity, but you have money for stock buybacks by the billions and you guys became billionaires. That doesn’t seem too complex to me,” Sanders snapped back.

Sanders and Bancel went back and forth several times, and the Senator again boiled down his point to a simple question.

“Your vaccine was developed with the help of the United States government. I am asking you whether or not we are going to continue to pay the highest prices in the world for that vaccine,” he said.

Bancel did not answer. The two tangled several more times on that point.

SANDERS: We have no transparency in pricing. It is a totally insane situation. Everybody pays a different price. The United States government helped you develop that vaccine. It is a huge consumer. Are you prepared to substantially charge less for the vaccine to the United States government and our agencies?

BANCEL: Given the situation at hand, Mr. Chairman, we have no idea of the volume that will needed this year. We have very increased complexity.

SANDERS: You have complexity, but you have money for stock buybacks by the billions and you guys became billionaires. That doesn’t seem too complex to me.

Let me ask you this question, at least. The United States pays, the people in our country pay the highest prices in the world for prescription drugs in general, something this committee will work on. Will you at least tell us today that the price you are charging for the vaccine will be lower than what other countries around the world are paying? Or are once again, we’re going to pay the highest prices.

BANCEL: So, Mr. Chairman, the price will depend on the value in each country. The cost of health care is different in each country.

SANDERS: That’s not the answer. That’s a whole — Alright, I asking you a simple question. Your vaccine was developed with the help of the United States government. I am asking you whether or not we are going to continue to pay the highest prices in the world for that vaccine. I understand everything is complex. But I also understand you money for stock buybacks and exorbitant compensation packages for yourself. Will you at least tell the taxpayers of this country that the price we pay for the vaccine will be less than other countries?

BANCEL: I cannot — I cannot say that the price would be lower than other countries.

Republicans, too, brought up conflicts of interest in the incentives and pricing, though Kentucky Sen. Rand Paul also pivoted into the question of the vaccine’s safety, generating a separate Twitter explosion.

Watch the clip above, via C-SPAN.

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