Bharat Biotech has reduced the cost of its COVID-19 vaccine, Covaxin for state governments from Rs 600/dose to Rs 400/dose, ‘recognising the enormous challenges to the public health care system’ as per a company statement.
The price reduction follows a similar move by Serum Institute of India, which reduced price on Covishield for state governments, from Rs 400 to Rs 300/dose.
Both companies have not reduced the price for private hospitals: Rs 600/Covishield dose and Rs 1200/Covaxin dose.
Bharat Biotech’s latest statement mentions that the company wishes to be ‘transparent’ in their approach to pricing ‘which was determined by internally funded product development, several operationally intensive BSL-3 manufacturing facilities (the first of its kind in our country) and clinical trials’.
Stating that the company wishes ‘to champion Innovation in India’, and their ‘commitment to public health is absolute’, the announcement also alludes to the risks taken by the company over last year, with the Bharat Biotech staff ‘fearlessly handling live SARS-CoV 2 virus strains, tirelessly working round the clock…’.
The statement also mentions that the ‘greater part of the organisation’s facilities and resources’ have been diverted to COVID-19 vaccines, that the company continues ‘to work towards offering superior COVID-19 vaccines’ and hopes that this reduction ‘enables our country towards a faster recovery.’