Serum institute to provide COVID-19 vaccine at Rs 225 in India

Marco Green
August 10, 2020

The institute has partnered with Gavi and the Bill & Melinda Gates Foundation on this regard, a press release from the Siram Institute on Friday It mentioned the partnership would supply the Serum Institute with upfront capital to assist in manufacturing.

SII, owned by the Pune-based Poonawalas, is the world's largest vaccine manufacturer by volume and is working on multiple Covid-19 vaccines.

The World Health Organisation warned this week the world may never have a "silver bullet" for COVID-19 capable of completely neutralising the virus' spread.

Adar Poonawalla, CEO, SII said the association would help ramp up the efforts to save the lives of millions of people from this terrible disease.

The U.S. government is lining up hundreds of millions of doses from the frontrunners in the vaccine race to ensure the bulk of the domestic population is vaccinated in 2021. The vaccines will be priced at maximum US$ 3 per dose and made available to 92 countries included in Gavi's COVAX Advance Market Commitment (AMC). While SII has capped the price at $3 a pop, the new arrangement provides for procuring additional doses if deemed necessary by the ACT (Access to COVID-19 Tools) Accelerator - a global collaboration for development of the vaccine. Countries such as the USA and the United Kingdom are spreading their risks, striking deals with multiple vaccine makers who are ahead in the race to develop a vaccine.

Director-General of the Indian Council of Medical Research Balram Bhargava said that this partnership is a further step in India's efforts to strengthen the fight against this global pandemic. ICMR is deeply supportive of our cutting edge vaccine research and manufacturing prowess, of which SII is one prominent example. Decisions around investment in manufacturing are taken in close collaboration between these three lead organisations of the COVAX pillar.

The COVAX facility is now gathering funds to accelerate the development of promising vaccines and the quick ways to mass-produce them once they are successfully developed.

The agreement between the organizations is aimed at fast-tracking the mass-production of candidate vaccines developed by UK's Oxford University-AstraZeneca and America's Novavax.

Other reports by Click Lancashire

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