NEW YORK: Pfizer expects to raise the price of its COVID-19 vaccine to about US$110 to US$130 per dose after the United States government’s current purchase programme expires.
Pfizer executive Angela Lukin has said she expects the vaccine will be made available at no cost to people who have private insurance or government paid insurance in the US.
The US government currently provides the vaccine for free to all but pays about US$30 per dose to Pfizer and German partner BioNTech SE.
In 2023, the market is expected to move to private insurance after the US public health emergency expires.
It is not yet clear what kind of access people without health insurance will have to the vaccine.
Pfizer said it expects the COVID-19 market to be about the size of the flu shot market on an annual basis for adults, but that the pediatric market would take longer to build based on shots given so far.
Reuters earlier reported that Wall Street was expecting such price hikes due to weak COVID vaccine demand.
Lukin said she does not expect purchasing of the vaccines to transfer to the private sector until the first quarter of 2023 “at the earliest.”