Serum Institute of India reduces price of Covishield from Rs 400 to Rs 300 for states

Serum Institute of India has dropped the price of the coronavirus vaccine, 'COVISHIELD' by Rs 100 for the state government. With this, the vaccine will be available to states at Rs 300 from the previous rate of Rs 400.

The decision was announced by CEO Adar Poonawalla, who said that this reduction of price is a philanthropic gesture on the part of Serum. He added that this price cut will save thousands of crores of state funds as well as save countless lives.

In a tweet, Serum's CEO Adar Poonawala said, "As a philanthropic gesture on behalf of @SerumInstIndia, I hereby reduce the price to the states from Rs.400 to Rs.300 per dose, effective immediately; this will save thousands of crores of state funds going forward. This will enable more vaccinations and save countless lives."

The decision comes after the union government urged both Serum Institute and Bharat Biotech to reconsider their prices just ahead of the new phase of the vaccination drive that will include everyone above 18 years. There has been a lot of debate regarding the pricing of the two vaccines. Serum Institute had priced Covishield at Rs 400 for state government hospitals and Rs 600 for private hospitals. Bharat Biotech priced its vaccine at Rs 600 for state government hospitals and Rs 1,200 for private hospitals.

The government had recently allowed state governments and private entities to procure vaccines straight from the manufacturers. It had allowed vaccine makers to give 50 per cent of their stock to the state governments and private entities.