"We've tried to pursue a balanced approach that recognises that innovation requires capital and investment so we plan to price our vaccine well below typical market rates reflecting the situation that we're in and with the goal to insure broad-based access around the world," Richardson said at the FT event.
"I expect there to be differential pricing in certain regions of the world," he added, declining to elaborate on the different price tags.
The vaccine was on Monday shown to be 90% effective, based on preliminary trial results, a key milestone in the war against a virus that has killed over a million people and battered the world's economy.
In July Pfizer had agreed with the U.S. government the supply of 100 million doses of its potential vaccine at a price of $39 for a two-dose immunisation, or $19.5 per dose, with the option to sell another 500 million doses under conditions to be negotiated separately.
Later on Tuesday, Richardson signalled that order size would impact the per-dose price in the developed world.
The European Commission will discuss on Wednesday the adoption of a supply contract with Pfizer and BioNTech. The bloc earlier this week said a contract for up to 300 million doses was close to being signed, without providing financial terms.
In the FT briefing, Richardson also said that the two partners' goal to supply 1.3 billion doses in 2021 would be the result of a ramping-up of efforts well into the second half of next year.
While there would be "significant supply" during the first half, scaling up output would continue throughout 2021.
BioNTech's strategy chief stressed that, even though the German group had received public-sector backing, the risks taken by its investors would merit some financial rewards from a future vaccine.
"We incurred considerable financial risk. We have raised capital in the capital market," he said.
Richard Hatchett, chief executive officer of the Coalition for Epidemic Preparedness Innovations (CEPI), said at the FT event that the Pfizer and BioNTech project was the only one among the 10 leading vaccine developers that had not received "substantial public sector financing".
In June the European Investment Bank, the EU's financial arm, awarded BioNTech 100 million euros in debt financing for its COVID-19 vaccine development and manufacturing.
Germany's research ministry in September granted BioNTech 375 million euros, subject to meeting certain milestones, also to ramp up vaccine development and production.
(Additional reporting by Matthias Blamont; Editing by Keith Weir)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.