Pfizer's plan to as much as quadruple current U.S. prices for its COVID-19 vaccines going forward could spur revenue for years, analysts said.
"We expect Moderna to adapt to this signal," SVB Securities analyst David Risinger said in a research note, adding that he sees Pfizer/BioNTech, Moderna and Novavax "pricing in a similar range for the foreseeable future."Wall Street wasdue to weak demand for COVID vaccines, which meant manufacturers would need to hike prices to meet revenue forecasts for 2023 and beyond.
So far, the U.S. rollout of updated COVID-19 booster shots that target both the original version of the coronavirus and circulating Omicron subvariants has lagged last year's rate despite more people being eligible for the shots. Around 19.4 million people in the United States received the updated booster over the first seven weeks of its rollout. In the first seven weeks of the 2021 revaccination campaign, over 27 million people received their third shot even though only older and immunocompromised people were eligible at that point.Reporting by Michael Erman; Editing by Andrea Ricci and Bill Berkrot
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