Pune’s Serum institute to provide vaccine at Rs 225 under new agreement with Gates Foundation
SII will produce up to 100 million Covid-19 vaccine doses for India and low- and middle-income countries
The Pune headquartered Serum Institute of India (SII) which is the world’s largest vaccine manufacturer by volume, will provide its vaccine at under US$3 per dose for patients in India and also to 93 other countries under the new collaboration of the company with Bill and Melinda Gates Foundation. Under this new agreement, the Gates Foundation through its strategic investment fund, will provide at-risk funding of US$150 million to Gavi, which will be used to support the SII to manufacture the potential vaccine candidates. As per the current valuation of Indian currency, the vaccine would be available for Rs 225 per dose.
SII will produce up to 100 million Covid-19 vaccine doses for India and low- and middle-income countries as early as 2021. The vaccines will be priced at maximum US$ 3 per dose and made available to 92 countries included in Gavi’s COVAX Advance Market Commitment (AMC). The collaboration will provide upfront capital to SII to help them increase manufacturing capacity now so that, once a vaccine, or vaccines, gains regulatory approval and the World Health Organization (WHO) prequalification, doses can be produced at scale for distribution as early as the first half of 2021.
The funding will support at-risk manufacturing by SII for candidate vaccines from AstraZeneca and Novavax, which will be available for procurement if they are successful in attaining full licensure and WHO prequalification.
“In an attempt to make our fight against Covid-19 stronger and all-embracing; SII has partnered with Gavi and the Bill and Melinda Gates Foundation to advance the manufacturing and delivery of up to 100 million doses of future Covid vaccines for India and low and middle income countries in 2021,” said Adar Poonawalla, CEO of Serum Institute of India in a statement issued to the press.
Dr Balram Bhargava, director-general of the Indian Council of Medical Research (ICMR), said, “India has demonstrated consistent capability in delivering on low-cost and high-quality medical research, while also maintaining technical and scientific rigour. The ICMR is deeply supportive of our cutting edge vaccine research and manufacturing prowess, of which SII is one prominent example. This partnership signifies yet another step in India’s efforts to bolster the fight against this global pandemic.”
The Bill and Melinda Gates Foundation, via its strategic investment fund will provide at-risk funding of US$150 million to Gavi, which will be used to support the Serum Institute of India to manufacture potential vaccine candidates, and for future procurement of vaccines for low- and middle-income countries via Gavi’s COVAX AMC.