Serum Institute signs deal with Gates Foundation to price Covid -19 vaccine below ₹250/dose which converts to be less than US$ 5 / dose.
It will receive at risk funding of $ 150 million from Bill & Melinda Gates Foundation to manufacture 100 million doses of COVID-19 vaccines for India and low-and-middle income countries. Serum Inida has earlier joined hands with Astra Zeneca and Novavax to develop their COVID-19 candidates. Under this agreement, India-based firm can charge a maximum of $3 per dose for the two COVID-19 vaccines. The vaccine maker will get the funding from the Gates Foundation through international vaccine alliance GAVI.
Novavax Inc has entered a supply and license agreement with the Serum Institute of India for the development and commercialization of its COVID-19 vaccine candidate.
Oxford’s COVID-19 vaccine has shown a positive result in its initial trial and according to a report published in the BMJ (British medical journal), The Lancet, the COVID-19 vaccine produced a dual immune response in people aged 18 to 55.
On production of the Oxford’s COVID-19 vaccine, Serum India Managing Director, Poonawalla added, “Keeping in mind the pandemic situation, we have two dedicated facilities to produce millions of doses of the COVID-19 vaccine, while withholding vast production of other products.