New Delhi: Serum Institute of India has on Saturday issued a statement defending its pricing of Covishield vaccine at 1.5 times the initial rate. This comes after questions were raised on the recently revealed pricing of its Covid-19 vaccine with separate rates for central and state government along with private hospitals.


SII has clarified that its earlier price was based on advance funding and now it needs to invest in scaling up and expanding capacity to be able to produce more shots.


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Serum Institute of India (SII) manufactures AstraZeneca's vaccine known as 'Covishield' in India at its Pune facility. Earlier this week, it announced a price of Rs 600 per dose for private hospitals and Rs 400 for the state governments.


This was being compared to Rs 150 per dose that the central government was being charged for the existing supplies.


"There was an inaccurate comparison done between the global prices of the vaccine with India," SII stated. "Covisheld is the most affordable Covid-19 vaccine available in the market today," it maintained.



According to SII, the initial price was "kept low globally as it was based on advance funding given by those countries for at-risk vaccine manufacturing." "The initial supply price of Covishield for all government immunization programme, including India, has been the lowest," it added.


"The current situation is extremely dire, the virus is constantly mutating while the public remains at risk. Identifying the uncertainty, we have to ensure sustainability as we must be able to invest in scaling up and expanding our capacity to fight the pandemic and save lives," the statement by CEO Adar Poonawalla reads.


SII goes on to add that only a limited portion of its volume will be sold to private hospitals at Rs 600 per dose. The market opening up for other vaccines is in the interest of public health and will help immunisation program of our country, it states.


Everyone above the age of 18 years has been made eligible to take Covid-19 Vaccine. The new phase of inoculation drive will begin from May 1, the centre announced on Monday.


Vaccine manufacturers were empowered to release up to 50% of their supply to State governments and in the open market at a pre-declared price. Additionally, States were given permission to procure additional vaccine doses directly from the manufacturers, as well as open up vaccination to any category of people above the age of 18 for the same.