Taking pride as the largest vaccine producing firm by volume across the world, the Serum Institute of India is likely to sign a strategic contract with the Central government regarding the supplying of Covishield, the COVID-19 vaccine. The team plans to provide the vaccine at 250 INR or $3.39 per dose of the antidote. The news was revealed in a report by Business Standard hub that was based on the information given by the trusted sources related to the entity.
According to the official report, the Serum Institute of India has applied to the government for acquiring an Emergency Use Authorization or EUA for its vaccine. The sources confirmed that the discussions for signing the supply contract of Covishield are in its final stages, and the results of the same can be expected soon. The government is placing its big bet on Serum Institute’s vaccine and trusting the firm for its mass supply.
In an earlier statement, the Chief Executive Officer of Serum Institute, Adar Poonawalla, stated that the COVID-19 vaccine would cost nearly 1,000 INR for every dose in the Indian market space. However, the firm is likely to market the product at a lower price owing to the large supply contract demanded by the governments.
The spearhead added that his team would focus primarily on supplying the demand requirements of the Indian market before trading it on a global level. An official said it would take time for SII to supply the vaccine to low- and medium-income nations as part of Gav, the vaccine pact through public-private global health partnerships.
The firm is likely to provide nearly 60 Million doses to the government, though the exact number is still not disclosed by the team. It has more than 40 million doses ready for supply, and by January and February 2021, the firm might provide around 100 million doses to the Indian government. The SII will supply 1 billion doses to AstraZeneca, out of which half of the volume will be reserved for India.