When the U.S. government stops purchasing the shots, Pfizer will charge between $110 and $130 for a dosage of its COVID-19 vaccine, although the pharmaceutical company anticipates that many people will continue to receive it gratis.
According to Pfizer executives, depending on when the government phases out its program of purchasing and distributing the shots, the commercial pricing for adult doses might begin early next year.
The pharmaceutical company stated that it anticipates no out-of-pocket costs for those with private health insurance or coverage through government programs like Medicare or Medicaid.
Insurers must cover numerous recommended vaccinations under the Affordable Care Act without out-of-pocket costs.
According to a spokeswoman, the business also offers an income-based assistance program that enables qualified Americans without insurance to receive the shots.
According to a Pfizer executive, the price reflects higher expenses for moving to single-dose vials and commercial distribution.
The executive, Angela Lukin, stated that the cost was “for what would be considered a highly effective vaccine” considerably below the standards.
The two-shot vaccination from Pfizer, which went on sale in late 2020, is the most frequently administered preventive immunization against COVID-19 in the United States.
The initial vaccine, created by Pfizer and German pharmaceutical company BioNTech, has been given out in the United States in doses totaling more than 375 million, according to the Centers for Disease Control and Prevention.
Another 12 million doses of an upgraded booster approved earlier this year are not included in that number.
Pfizer’s top-selling product and source of $36.78 billion in revenue last year came from vaccination.
According to FactSet, analysts expect it to earn an additional $32 billion this year. However, they also anticipate a sharp decline in sales after that.
The CDC estimates that more than 90% of adult Americans have already gotten at least one dose of the COVID-19 vaccination.
However, fewer than half of that population also had a booster shot.