SII cuts vax price for states to ₹300/dose

SII cuts vax price for states to ₹300/dose

Rupali.Mukherjee@timesgroup.com

29.04.2021

Facing a public outcry over pricing of Covishield, Serum Institute of India on Wednesday announced a 25% or ₹100 reduction in its price for state governments, describing it as a “philanthropic gesture”. The bad news is that at ₹300 a shot, it will still be twice what the Centre is paying. For private hospitals, the price has been left unchanged at ₹600 a shot.

The vaccine is also unlikely to be easily available in private market until September-October.

A Serum Institute official had earlier told TOI: “Owing to the complexity and urgency of the situation, it is challenging to supply it independently to each corporate entity.”

Criticism from state governments and civil society, however, seems to have forced Serum Institute to reduce prices. A news agency report had also said that the Centre has taken up the issue with Serum Institute and Bharat Biotech as both companies had raised prices.

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Move will save countless lives, says Poonawalla

“As a philanthropic gesture on behalf of @SerumInstIndia, I hereby reduce the price to the states from ₹400 to ₹300 per dose, effective immediately; this will save thousands of crores of state funds going forward. This will enable more vaccinations and save countless lives,” the company CEO Adar Poonawalla said on Wednesday, four days after defending his company’s pricing policy.

He, however, did not comment on his company’s efforts to link Centre’s procurement price with that for states. The Centre’s procurement price was around ₹150 per jab for the initial orders placed in January and March.

Covishield price in India is higher than other countries such as South Africa and Sri Lanka (around ₹390 per dose each), European Union $2.15 (around ₹160) and UN initiative, Covax $3 (around ₹225).

With infection rising at a rapid pace, there is greater demand for vaccines and calls for the government to step up the drive. But manufacturers are unable to step up production.

SHOT OF HOPE: With infection rising at a rapid pace, there is greater demand for vaccines and calls for the government to step up the drive