Thu Oct 27, 2022 – 9:37 pm EDT
(LifeSiteNews) — Major COVID-19 mRNA drug manufacturer Pfizer will increase the cost of its injections by as much as 400% as it scrambles to meet revenue projections amid a major shortfall in jab demand, Reuters reported Friday.
According to the report, Pfizer said late last week that it will increase the cost of its drug to between $110 and $130 per dose next year.
Wells Fargo analyst Mohit Bansal told the outlet Pfizer’s plans to quadruple its cost-per-shot could boost the Big Tech corporation’s annual revenue by $2.5 billion to $3 billion. The plan is also anticipated to lead competitors to increase their prices as well, with Moderna and Novavax shares rising in response to the news of Pfizer’s markup.
Pfizer COVID vaccine price hike to boost revenue for years, rivals may follow https://t.co/JSl3X2Hcla pic.twitter.com/xlHM7cdcVS
— Reuters (@Reuters) October 21, 2022
The inflated costs are expected to help the drug manufacturers weather the fallout from unexpectedly low interest in additional booster doses, allowing them to “meet revenue forecasts for 2023 and beyond,” Reuters reported.
The outlet cited a Kaiser Family Foundation poll that found a solid majority of
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