Pfizer Stock Price may increase due to the higher Covid Vaccine price. The increase of price will boost the company’s profit.
Angela Lukin, a Pfizer (NYSE:PFE) official, stated on Thursday that the company anticipates about quadrupling the price of its COVID-19 vaccine once the United States government’s current purchasing program comes to an end. Pfizer estimates the price to increase to between $110 and $130 per dosage.
Lukin stated that she anticipates the vaccination, which is presently supplied by the government at no cost to anyone, would be made available to anyone at no cost, regardless of whether they have private insurance or insurance paid for by the government.
Earlier on Thursday, Reuters published an article stating that Wall Street was anticipating such price rises owing to the sluggish demand for COVID vaccinations. This meant that vaccine manufacturers would need to raise costs in order to fulfill revenue predictions for the years 2023 and beyond.
Pfizer Stock Price Forecast
Pfizer (NYSE:PFE) and its German partner BioNTech SE are now receiving payments of around $30 per dosage from the United States government (22UAy.DE). In the United States in 2023, it is anticipated that the market will transition to private insurance. The stock price of these biotech companies may increase due to an increase in profit.
According to Lukin, they are certain that the price point of the COVID-19 vaccine in the United States represents its overall cost-effectiveness and assures that the price will not be a barrier.
It is not quite obvious at this time how those who do not have access to medical insurance will be able to obtain the vaccine.
Pfizer (NYSE:PFE) has stated that it anticipates the market for COVID-19 to be around the same size as the market for flu vaccines on an annual basis for adults, but that the market for pediatric vaccinations would take longer to establish based on the shots that have been administered thus far.
Despite the fact that more people are eligible for the injections, the rate at which updated COVID-19 booster shots, which target both the original coronavirus strain and the Omicron variant, have been rolled out in the United States has lagged behind the rate at which they were sent out last year.
During the initial six weeks of the deployment of the new injections in the United States, a booster shot was administered to around 14.8 million people. Over 22 million people received their third injection within the first six weeks of the 2021 revaccination campaign, despite the fact that at that point in time, only elderly people and persons with immunocompromised conditions were eligible.
“at the earliest,” according to Lukin, she does not anticipate that the purchase of the vaccinations will be transferred to the private sector until the first quarter of 2023. The action is contingent on their being insufficient supplies remaining from the government contract.
Featured Image- Megapixl @ Brasilnut
Author Valerie Remorosa 
