Pfizer expects to hike U.S. COVID vaccine price to $110-$130 per dose

Pfizer Inc expects to roughly quadruple the price of its COVID-19 vaccine to about $110 to $130 per dose after the United States government’s current purchase program expires, Pfizer (NYSE:PFE) executive Angela Lukin said on Thursday.

Lukin said she expects the vaccine – currently provided for free to all by the government – will be made available at no cost to people who have private insurance or government paid insurance.

Reuters earlier on Thursday reported that Wall Street was expecting such price hikes due to weak demand for COVID vaccines, which meant vaccine makers would need to hike prices to meet revenue forecasts for 2023 and beyond.

The U.S. government currently pays around $30 per dose to Pfizer and German partner BioNTech SE (NASDAQ:BNTX). In 2023, the market is expected to move to private insurance after the U.S. public health emergency expires.

“We are confident that the U.S. price point of the COVID-19 vaccine reflects its overall cost effectiveness and ensures the price will not be a barrier for access for patients,” Lukin said.

PFIZER INC. Technical Analysis: Daily Chart

In the daily charts, PFIZER INC. is trading in down channel. PFIZER INC. is currently trading below all SMA.

RSI is in selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.

Its immediate support is 41.61 & the resistance level is at 44.58.

PFIZER INC. will trade in down channel until there is trend reversal.   

How to Trade PFIZER INC. this Week:

PFIZER INC. will follow the down channel until there is trend reversal. So, remain bearish on PFIZER INC.

TRADE SUGGESTION- SELL AT 43.06, TAKE PROFIT AT 41.61 AND STOP LOSS AT 44.58