Vaccine Makers Mull Price Increase For COVID-19 Boosters Amid Falling Demand

Vaccine Makers Mull Price Increase For COVID-19 Boosters Amid Falling Demand
  • With the dwindling demand for COVID-19 shots, vaccine makers such as Pfizer Inc PFEBioNTech SE BNTXModerna Inc MRNA, and Novavax Inc NVAX could possibly raise prices to meet Wall Street forecasts.
  • The hike could be as much as three times current levels.
  • Citing a recent poll by Kaiser Family Foundation, Reuters reported that two-thirds of American adults do not plan on getting a COVID vaccine soon. 
  • Analysts expect the U.S. market to be as low as one-third the size of the flu.
  • Quoting Pfizer's executive Angela Lukin, Reuters said the company could roughly quadruple the price of its COVID-19 vaccine to about $110 to $130 per dose from $30 after the U.S government's current purchase program expires in 2023.
  • Related: European Advisory Committee Backs Pfizer/BioNTech's COVID Shot For Younger Kids.
  • Pfizer said it expects the COVID-19 market to be about the size of the flu shot market annually for adults but that the pediatric market would take longer to build.
  • Over the first six weeks of the roll-out, around 14.8 million people received the updated COVID-19 booster shots. In the first six weeks of the 2021 vaccination campaign, over 22 million people received their third shot, even though only older and immunocompromised people were eligible.
  • Uptake of the boosters in the European Union did not spike as expected even after new updated omicron-targeted shots were released.

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