Rs 150 per dose is not sustainable in long run: Bharat Biotech on Centre’s Covaxin price
First Published: 15th June, 2021 19:59 IST
Indigenous COVID-19 vaccine maker Bharat Biotech on Tuesday said the supply price of Covaxin to the Government of India at Rs 150 per dose is a non-competitive price and not
Indigenous COVID-19 vaccine maker Bharat Biotech on Tuesday said the supply price of Covaxin to the Government of India at Rs 150 per dose is a non-competitive price and not sustainable in the long run, hence a higher price in private markets is required to offset part of the costs.
“The supply price of Covaxin to the government of India at Rs 150 per dose, is a non-competitive price and clearly not sustainable in the long run. Hence a higher price in private markets is required to offset part of the costs,” Bharat Biotech said in a statement.
The company said, as directed by the Government of India, less than 10 per cent of the total production of Covaxin to date has been supplied to private hospitals, while most of the remaining quantity was supplied to state and central government.
“As directed by the Government of India, less than 10 per cent of our total production of Covaxin to date has been supplied to private hospitals, while most of the remaining quantity was supplied to state and central governments. In such a scenario the weighted average price of covaxin for all supplies realized by Bharat Biotech is less than Rs 250 per dose. Going forward, ~75 per cent of the capacity will be supplied to state and central governments with only 25 per cent going to private hospitals,” the statement read.
The company clarifies that the procurement of vaccines by private hospitals is optional and not mandatory, albeit it gives a choice to citizens who are willing to pay for better convenience.
“Unlike most medicines and therapeutics, vaccines are provided free of cost by the Government of India to all eligible Indian citizens. Thus, the procurement of vaccines by private hospitals is optional and not mandatory, albeit it gives a choice to citizens who are willing to pay for better convenience. In our view, the question of product pricing is only of extraneous interest to all concerned, especially when the same vaccine is made available free of cost,” it said.
Hyderabad-based vaccine manufacturer also added that it is pertinent to mention the urgent need to set up a significant number of manufacturing facilities and to divert existing ones for Covaxin, which has resulted in reduced production of other vaccines at our facilities, leading to a loss in revenues.
“Product development activities towards the development of vaccines against newer variants are also underway at our facilities,” the statement revealed.
Bharat Biotech mentioned that it should be allowed to maintain a differential pricing strategy for governments and private hospitals.
“It should be noted that companies such as Bharat Biotech, which are innovators with specialized expertise in product development, and large scale manufacturing, should be allowed to maintain a differential pricing strategy for governments and private hospitals,” said the company statement. (ANI)
COMMENTS
TOPMOST STORY NOW
Live Arunachal Pradesh: Road communication totally cut off to Dibang Valley due to heavy landslides
25th April 2024Live Firing outside Salman Khan’s house: Accused interrogated for three hours
25th April 2024Live Trade between India-Bangladesh flourishing through Assam’s Karimganj
25th April 2024Live Deadly floods kill 38 in Kenya; situation moving from emergency to disaster level
25th April 2024WE RECOMMEND
Trade between India-Bangladesh flourishing through Assam’s Karimganj
The local businessmen, traders, and local people are expecting that the trade (export and import) between the two neighbouring countries will increase more in the coming days.
25th April 2024Nitin Gadkari faints while addressing poll rally
Gadkari is contesting from the Nagpur Lok Sabha constituency which underwent a poll on April 19.
24th April 2024Lok Sabha polls: Om Birla eyes hattrick of wins in Kota, to face Congress’ Prahlad Gunjal
In the 2014 Lok Sabha elections, Birla defeated Congress' Ijyaraj Singh with a margin of 2,00,782 votes. Later, Ijyaraj Singh joined the BJP.
24th April 2024“Modi’s guarantee doesn’t stop at Indian borders, it’s global”: Jaishankar
Emphasising the importance of abrogation of Article 370 from the erstwhile Jammu and Kashmir state, Jaishankar said the leadership at the time created a "vote bank lobby" that kept the special provisions intact in the erstwhile state
24th April 2024J-K: LeT terrorist ‘Abu Hamza’ behind Rajouri killing; police announce Rs 10 lakh bounty
The brother of a Territorial Army official, namely Mohammad Razaq was shot dead by the terrorists in the aftermath of a TA official getting slip from their clutches in the Kunda Top village.
24th April 2024