Serum Institute Joins Forces With Bill Gates For Covid-19 Vaccine; Every Dose Will Cost Rs 250
There has been yet another action in the vaccine production procedure in India.
The immunobiological drug’s manufacturer Serum Institute of India is in the news again.
The Pune based SII has entered into an agreement Gavi, The Vaccine Alliance as well as the US-based Bill and Melinda Gates Foundation, for developing 10 crore doses of a promising Covid vaccine.
It will conduct these developments for low and medium income countries, which include India and have priced each dose at Rs. 250.
SII to be backed by Funds Worth $150 Mn
The Bill & Melinda Gates Foundation will help the SII to rapidly manufacture the 10 crore doses of vaccines, developed by the University of Oxford-AstraZeneca and Novavax.
It will do so by funding SII with as much as $150 million so that the manufacturing and production goes on smoothly and as soon as possible.
The vaccine is priced at $3 for 92 countries, including India, according to the Covax Advance Market Commitment (AMC).
The fundings by Gavi and the Bill and Melinda Gates Foundation will help SII to boost up such large scale manufacturings of AstraZeneca’s and Novavax’s candidates.
Covax and the Vaccine
SII actually will be manufacturing the vaccine prepared by Oxford-AstraZeneca, AZD1222 and Novavax’s candidates.
Speaking of AZD1222, the candidate is currently undergoing advanced clinical trials.
Until December, SII aims to prepare upto 300 million doses of AZD1222. With regards to Covavax’s vaccine candidate, SII will develop and commercialise it.
It is to be noted that SII’s vaccine productions for the 2 candidates shall be procured only if they successful get a ‘thumbs up’, or manages to get the full licensing from WHO.
In fact, SII may produce more vaccines, if the Access to COVID-19 Tools (ACT) Accelerator, sees a need for the same.
Apart from the production of these vaccines for 92 countries and supplying it to them for Rs 250 each, Serum has been given the authority to price the vaccines as per their standards, in India.