Home >  News >  Industry >  Pharma News >  Serum Institute COVID-19...

Serum Institute COVID-19 vaccine priced at Rs 292, Rs 586 for Govt, private market respectively

By - Ruchika Sharma
Published On 2021-01-05 09:30 GMT   |   Update On 2021-08-19 11:04 GMT
Advertisement

New Delhi: Coronavirus vaccine developed by AstraZeneca and the University of Oxford will cost USD 3-4 per shot (Rs 219-292) to the government and will be priced at double that rate in private market ones such sales open up, said the CEO of its Indian manufacturer on Monday. Serum Institute of India, the world's largest vaccine manufacturer, has a licence to produce the shot and has already manufactured close to 50 million doses.

Its CEO Adar Poonawalla told that the company will start selling the Covishield to the Indian government and GAVI countries in the first stage, followed by the private market.
Indian drug regulator on Sunday approved Covishield and Bharat Biotech's Covaxin for restricted emergency use in the country.
"We want the vaccine to be affordable and accessible to all. The government of India will receive it at a far more affordable price of USD 3-4, since they will be buying in a larger volume," he said.
Advertisement
Poonawalla, who had taken a huge gamble once the pandemic began to unfold by overhauling Serum's assembly line and "sacrificing" products that were to be destined for Europe and America in anticipation of a COVID-19 vaccine, said the priority supplies will go to India and the GAVI (Global Alliance for Vaccines and Immunization) nations.
Only after meeting their requirements, "the private market will open up where the pricing would be USD 6-8 per done," he said.
Serum will have 100 million doses in a month, and will possibly double it by April.
The government has indicated that it may need 300 million doses before July 2021, with frontline health workers and the elderly given priority.
Poonawalla said Serum was in touch with the government for the vaccine's procurement.
"Initially, we will supply 50 million doses and we will get more confirmations over the course of the next few days," he added.
After the regulator's nod, Serum expects formalities to be completed in the next 7 to 10 days for the rollout to begin.
When asked if the SII has been barred by the Drugs Controller General of India (DCGI) not to export the vaccine till vulnerable populations in India are protected, Poonawalla said: "We will start exporting the vaccine post the government's approval and talks are going on".
"Our priority list will see us cater to the Indian market first, then the COVAX countries. Optimistically, by March-April we should have permissions in place," he added.
When asked if the company was negotiating bilateral agreements with other countries too for the vaccine, Poonawalla said: "We have bilateral partnerships with nations like Bangladesh, Myanmar, Morocco, etc".
On the efficacy of Covishield, he noted that the company has proven in its trials that it has a 100 percent efficacy on hospitalisation, implying that there were zero hospitalisations found in the people who took the vaccine globally.
"The efficacy results of the vaccine are quite high if it is administered in 2-doses within a gap of 2 - 3months," Poonawalla said.

Read also: Day after approval of AstraZeneca COVID vaccine, India bans Serum Institute from exporting, selling vaccine on private market



Tags:    
Article Source : PTI

Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.

NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.

Ruchika Sharma

Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

Comments Policy
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News

Health Ministry Notifies Cosmetics Rules 2025, Empowers States To Suspend Licences

Biodeal Told To Justify Novel Delivery Claim In NPPA Exemption Plea For Midazolam Nasal Spray

CDSCO Panel Accepts Phase I Trial Data for Intas' Denosumab Biosimilar

Torrent Pharma: USFDA concludes inspection at Vizag facility with zero observations

Gilead Sciences gets USFDA nod for new Biktarvy indication for people with HIV who are treatment experienced, restarting antiretroviral treatment

USFDA issues 4 observations for Jubilant Generics Roorkee facility

Granules India arm gets 1 USFDA observation for Hyderabad facility

CDSCO Panel Clears PURE & CURE's Sickle Cell Trial With Conditions On Sample Size, Sites