Pfizer Inc. expects to charge about $110 to $130 per dose for its COVID-19 vaccine after the United States government's current program expires, Pfizer executive Angela Lukin said on a call with analysts.

Lukin said she expects the vaccine will be made available with no co-pay to people who have private insurance or government paid insurance.

The U.S. government currently provides the vaccine for free to all but pays about $30 per dose to Pfizer and German partner BioNTech SE. In 2023, the market is expected to move to private insurance after the U.S. public health emergency expires.

With most Americans delaying or skipping new COVID-19 booster shots, analysts and investors are now predicting far fewer will be given each year, pushing the number of shots well below annual flu vaccinations.

With fewer shots needed, vaccine makers including Pfizer Inc., partner BioNTech SE, rival Moderna Inc. and Novavax Inc. could have to hike prices as much as three times current levels if they hope to meet Wall Street revenue forecasts for the shots for 2023 and beyond, several analysts said.

• Falling COVID Booster Demand Could Hike Costs