New Delhi (NVI): The Serum Institute of India (SII) has confirmed that the price of its COVID-19 vaccines will be capped at USD 3 per dose in low and middle-income countries, including India, as part of new partnership with GAVI.
The vaccines, one of which is already in late-stage of human trials, known to generate an immune response, will be manufactured by the Pune-based Institute, with the backing of Bill and Melinda Gates Foundation.
Recently, the Serum Institute announced the Vaccine Alliance. Furthermore, Bill & Melinda Gates Foundation will manufacture and deliver up to 100 million COVID-19 vaccine doses to India and other low-income countries by 2021.
Under the agreement, the Gates Foundation will provide at-risk funding of USD 150 million to GAVI, which would then provide capital to fund Serum’s cost of vaccine manufacturing, according to SII statement.
The agreement between the organizations is aimed at fast-tracking the mass-production of candidate vaccines from UK’s Oxford University AstraZeneca and America’s Novavax.
Both the organization’s have granted manufacturing and distribution licenses to the institute and are heading towards clearing human trials.
However, the vaccine from AstraZeneca is already in the final stage, while Novavax’s candidate is expected to go into Phase-3 next month.
In a statement, SII stressed that the vaccine, will be available for procurement if they are successful in attaining full licensure and World Health Organization (WHO) pre-qualification and that their prices will be capped at USD 3 per dose.
Once the trials are cleared, the vaccines will be lined up for regulatory approvals in the targeted countries and the company will proceed with the distribution of the manufactured doses.
So far, both of the candidate vaccines that the institute is striving to mass manufacture have shown promising results in clinical human trials.
-RJV
