Pfizer Likely To Hike U.S. COVID Vaccine Price
(RTTNews) - Pfizer Inc. expects to increase the price of its COVID-19 vaccine after the United States government's current purchase program expires, Reuters reported citing Pfizer executive Angela Lukin.
The drug major is likely to quadruple the price of its COVID-19 vaccine to about $110 to $130 per dose.
Meanwhile, for people who have private insurance or government paid insurance, vaccine will be made available free of cost.
At present, the U.S. government provides free vaccine to all, and pays around $30 per dose to Pfizer and German partner BioNTech SE. Once the U.S. public health emergency expires, the Covid vaccine market is expected to move to private insurance.
As per the report, vaccine makers including Pfizer, BioNTech, Moderna Inc and Novavax Inc are likely to increase price for vaccines due to weak demand for COVID vaccines. As many in the country are delaying or skipping new booster shots, these companies will be forced to raise price to meet revenue forecasts for 2023 and beyond.
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