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On April 25, Bharat Biotech had announced Covaxin`s price at ?600 per dose for state governments and ?1,200 for private hospitals. However, only after three days, the company has decided to reduce the price of its vaccine for the state governments.
Hyderabad-based vaccine manufacturer Bharat Biotech on Thursday slashed the price of its indigenous Covid-19 vaccine candidate `Covaxin` to ?400 per dose for state government to procure it. Earlier, the company had kept the price at ?600 for one dose. There is no change in the price of Covaxin for private markets and it remains at ?1,200 per dose.
The reduction in Covaxin`s price for states comes just a day after Serum Institute of India also reduced Covishield prices by 25% to ?300.
On price reduction of Covaxin, Bharat Biotech said, "Recognising the enormous challenges to the public health care system, we have made Covaxin available to state governments at ?400 per dose".
Bharat Biotech - COVAXIN Announcement - April 29, 2021 pic.twitter.com/RgnROIfUCe
— BharatBiotech (@BharatBiotech) April 29, 2021
"We wish to be transparent in our approach to pricing which was determined by internally funded product development, several operationally-intensive BSL-3 manufacturing facilities, and clinical trial," it added.
On April 25, Bharat Biotech had announced Covaxin`s price at ?600 per dose for state governments and ?1,200 for private hospitals. However, only after three days, the company has decided to reduce the price of its vaccine for the state governments.
Covaxin is among the two vaccines available to Indian citizens to date. Another vaccine is Covishield, manufactured by the Pune-based Serum Institute of India.
Developed by Bharat Biotech in partnership with National Institute of Virology and the Indian Council of Medical Research, Covaxin was approved for emergency use on January 3. Trial results later showed the vaccine has an efficacy of 78 per cent.
Recently, Covaxin has been found to neutralise the 617 variant of the deadly virus, according to America`s top pandemic expert Dr Anthony Fauci.
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