Bharat Biotech reduces cost of COVAXIN from Rs 600 to Rs 400 per dose for State governments

Bharat Biotech on Thursday, April 29, 2021, reduced the cost of the COVAXIN vaccine for State governments. It will now cost Rs 400 per dose for State Governments instead of the earlier announced price of Rs 600 per dose.

Bharat Biotech has said the decision has been taken recognising enormous challenges being faced by the public health care system.

The reduction comes a day after the Serum Institute of India slashed the rate of its Covishield vaccine for states. Serum Institute has slashed the price of the Covishield vaccine for states from Rs 400 to Rs 300.

Bharat Biotech in a tweet said, "Bharat Biotech - COVAXIN® Announcement - April 29, 2021"

In its release, the company said, "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 – first of its kind in our country – and clinical trials."

Earlier, Bharat Biotech had decided to charge state governments Rs 600 for a dose of its Covaxin vaccine and Rs 1200 per dose for private hospitals. As per this rate, the states would have had to pay four times what the Centre will be paying to procure its shots. The COVAXIN will cost Rs 1200 per dose for Private Hospitals. The price of vaccines for export is USD 15 to USD 20.

The decision to reduce the prices of their respective vaccines from the two vaccine makers, Serum Institute and Bharat Biotech, comes days after the central government asked them to lower the price of their COVID-19 vaccines amid criticism from several states who accused companies of profiteering from the crisis.