Bharat Biotech has so far invested over Rs 500 crores at risk from its own resources for product development, clinical trials and setting up of manufacturing facilities for Covaxin, it added.
Photo used for representational purpose. Pic/AFP
The supply price of Bharat Biotech's Covid-19 vaccine Covaxin to the central government at Rs 150 per dose is not sustainable in the long run, the vaccine maker said on Tuesday.
ADVERTISEMENT
The Centre's supplying price is pushing the pricing structure for the private sector upward. Fundamental business reasons ranging from low procurement volumes, high distribution costs and retail margins among few others contribute to higher pricing of Covaxin, Bharat Biotech said justifying the higher price when compared to other Covid-19 vaccines available for the private sector in India.
"The supply price of Covaxin to the government of India at Rs 150/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," it said in a statement.
Bharat Biotech has so far invested over Rs 500 crores at risk from its own resources for product development, clinical trials and setting up of manufacturing facilities for Covaxin, it added.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
