GOVT ASKS SII AND BHARAT BIOTECH TO REDUCE JAB PRICES AMID ROW

NEW DELHI: The central government on Monday asked the Serum Institute and Bharat Biotech to lower price of their Covid-19 vaccines amid criticism from various states who accused the companies of profiteering during such a major crisis.

The issue of vaccine pricing was discussed at a meeting chaired by cabinet secretary Rajiv Gauba. Now the two companies are expected to come up with revised pricing for their vaccines.

The Bharat Biotech has fixed the price of its Covid-19 vaccine, Covaxin, at ₹600 per dose for state governments and at ₹1,200 per dose for private hospitals. The Serum Institute of India, the world’s largest vaccine maker in terms of volume, has announced a price of ₹400 per dose for its Covid-19 vaccine, ‘Covishield’, for state governments and ₹600 per dose for private hospitals.

Both vaccines are available to the central government at a rate of ₹150 per dose. The Centre has relaxed its vaccination strategy in the third phase under which 18-plus population will get inoculated from May 1. Many states have objected to different prices for the vaccines. The SII, however, said the earlier price was based on advance funding and now it has to invest in scaling up and expanding capacity to produce more shots. Bharat Biotech chairman Krishna M Ella said that recovering cost is essential in the journey of innovation towards other vaccines.