Is Pfizer increasing the price of the COVID-19 vaccine?
This August 2022 photo provided by Pfizer shows vials of the company’s updated COVID-19 vaccine during production in Kalamazoo, Mich. U.S. regulators have authorized updated COVID-19 boosters, the first to directly target today’s most common omicron strain. The move on Wednesday, Aug. 13, 2022, by the Food and Drug Administration tweaks the recipe of shots made by Pfizer and rival Moderna that already have saved millions of lives. (Pfizer via AP)
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(NewsNation) — The drug company Pfizer is reportedly considering raising the price of the COVID-19 vaccine when the U.S. government stops purchasing them next year, NewsNation’s partner The Hill reports.
The government currently pays $30 per dose, and if the increase takes effect, the cost could jump to $110 or $130 per dose.
Since it was released, the federal government was buying the vaccine and offering it to the public for free.
WHO’S TALKING ABOUT THIS?
The right. Half of the news outlets covering this story are considered to the right or right-leaning, according to NewsNation’s media bias partner Ground News.
- The Epoch Times: Pfizer Plans to Hike Price of US COVID-19 Vaccine by 400 Percent
- Financial Post: Pfizer expects to hike U.S. COVID vaccine price to $110-$130 per dose
Just one left-leaning outlet reported the story, according to Ground News.
IS THAT REALLY WHAT’S HAPPENING?
The news came from an investor call on Thursday, in which company President Angela Lukin said they were still working with insurance companies, but that the price will mean equitable reimbursement and access to the vaccine, according to The Hill.
“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.
She continued that Americans with private or government insurance should still have the cost of the shot covered by their provider.
WHAT’S ANOTHER SIDE OF THIS STORY?
Pfizer is reportedly working on a single-dose shot of the COVID-19 vaccine, which is reflected in the increased cost.
While those who are insured may not be paying, it’s unclear if the cost will be applied to those who are uninsured. Additionally, The Hill reports that once the federal supply ends, the insurance companies will pay for them, but could increase premiums to cover the cost.
THE BOTTOM LINE
The CDC reports 80% of all Americans have received at least one dose of the COVID-19 vaccine, and 68% have completed the primary series. About half of the country has received at least one booster shot.
Pfizer’s vaccination was the most popular with 375 million doses administered, according to CDC data, ahead of Moderna, which administered 237 million doses.