Case 1:22-cv-00252-MSG Document 59-5 Filed 03/02/23 Page 1 of 3 PageID #: 1046
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`Exhibit 5
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`Case 1:22-cv-00252-MSG Document 59-5 Filed 03/02/23 Page 2 of 3 PageID #: 1047
`Case 1:22-cv-00252-MSG Document 59-5 Filed 03/02/23 Page 2 of 3 PagelD #: 1047
`Wnited States Senate
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`WASHINGTON, DC 20510
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`January 10, 2023
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`Stéphane Bancel
`Chief Executive Officer
`Moderna
`200 Technology Square
`Cambridge, MA 02139
`
`Dear Mr. Bancel:
`
`Yesterday, the Wall Street Journal reported that Modernais considering more than quadrupling
`the price ofits COVID vaccineafter the supply that the U.S. government purchased, and
`distributed to Americansat no cost, is depleted. Instead of charging $26.36 per dose, the price
`that the government paid, Modernahasindicated that the commercial price will go up to as much
`as $130 per dose.
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`I have very deep concerns aboutthat decision and the impactthat it will have on the federal
`budget, the cost of private insurance and the unnecessarydeaths that may occur because millions
`of Americans maynotbe able to afford the vaccine at the new cost.
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`I am writing to ask you to reconsider your decision and refrain from any price increases,
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`The hugeincreasein price that you have proposed will have a significantly negative impact on
`the budgets of Medicaid, Medicare and other government programsthat will continue covering
`the vaccine without cost-sharing for patients. Your decision will cost taxpayersbillions of
`dollars. Your outrageousprice boost will also increase private health insurance premiums.
`Perhaps mostsignificantly, the quadrupling of prices will make the vaccine unavailable for many
`millions of uninsured and underinsured Americans whowill not be able to afford it. How many
`of these Americans will die from COVID-19 as a result of limited accessto these lifesaving
`vaccines? While nobody can predict the exact figure, the number could well be in the thousands.
`In the midst of a deadly pandemic, restricting access to this much needed vaccineis
`unconscionable.
`
`I find your decision particularly offensive given the fact that the vaccine was jointly developed in
`partnership with scientists from the National Institutes of Health (NIH), a U.S. government
`agencythatis funded byU.S. taxpayers. The federal governmentdirectly provided $1.7 billion to
`your companyfor research and development, and guaranteed your companybillions more in
`sales. In other words, you propose to make the vaccine unaffordable for the residents ofthis
`country who madethe production of the vaccine possible. That is not acceptable.
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`Mr. Bancel: In the last two years, Moderna madeover $19 billion in profits and used those
`profits to provide incredibly extravagant compensation packages to you andothertop officials at
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`Case 1:22-cv-00252-MSG Document 59-5 Filed 03/02/23 Page 3 of 3 PageID #: 1048
`Case 1:22-cv-00252-MSG Document 59-5 Filed 03/02/23 Page 3 of 3 PagelD #: 1048
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`your company.It is reported that you, yourself, became a multi-billionaire as a direct result of
`Moderna’s COVIDvaccine with Forbes currently estimating your wealth at $6.1 billion.
`
`Moreover, Noubar Afeyan, Moderna’s chairman and co-founderis currently worth $2.1 billion.
`Robert Langer, another co-founder of Moderna, is now worth $2.2 billion. Timothy Springer,a
`founding investor in Moderna is now worth $2.6 billion. Further, my understandingis that
`Modernaapproved a $926 million golden parachute for you once you leave the company along
`with $160 million for Stephen Hoge (Moderna’s president) and $53 million for Juan Andres
`(Moderna’s chief technicalofficer).
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`I should point outthat all of this corporate welfare and profiteering has taken place in the midst
`of the worst public health crisis in America in 100 years. In the last three years, nearly 1.1
`million Americans died from COVID-19 and over 100 million more have becomeill. It has also
`been estimated that the cost of producing the vaccine is nowas low as $2.85 per dose — 2.2% of
`what Modernahas suggested chargingto the public.
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`Let’s be clear: The purpose ofthe recent taxpayer investment in Modernawasto protect the
`health and lives of the American people, not to turn a handful of corporate executives and
`investors into multi-billionaires.
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`As you know,the federal government, over the years, has supported Modernaevery step of the
`way going back to 2013 when your companyreportedly only had three employees. Now,in the
`midst of a continuing public health crisis and a growing federal deficit, is not the time for
`Modernato be quadrupling theprice of this vaccine. Nowis notthe time for unacceptable
`corporate greed.
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`Asthe incoming Chairman of the Committee on Health, Education, Labor and Pensionsin the
`United States Senate, I look forward to hearing your response in the verynearfuture.
`
`Sincerely,
`
`Bernard Sanders
`United States Senator
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