Serum Institute of India (SII) revealed that it will receive funding of $150 million from Bill and Melinda Gates Foundation and the GAVI vaccine alliance to produce 100 million doses of COVID-19 vaccine for India and other low and middle-income countries (LMIC).
In a statement released on Friday, the company mentioned that the candidate vaccines, AstraZeneca and Novavax, will be available at an affordable price of $3. The Gates Foundation will provide funds to GAVI, which will be used to support the Serum institute. SSI also added that the funding will support at-risk manufacturing of AstraZeneca and Novavax which will be available for public use if they are successful in getting a license and WHO prequalification
Serum Institute has partnered with GAVI and other pharmaceutical institutes in the past as well to manufacture vaccines against pneumonia, severe diarrhea, meningitis and measles, the company mentioned. GAVI is a public-private global health partnership funded by the Gates Foundation. It aims to increase access to immunization in poor countries.
Renu Swarup, secretary in the Department of Biotechnology, in the government of India said, “ We are very happy to see SII enter into this global partnership to respond to the global health crisis posed by Covid-19.”
GAVI is a public-private global health partnership funded by the Gates Foundation. It aims to increase access to immunization in poor countries. With the total number of cases surpassing 2 million India now stands at 3rd place behind the U.S and Brazil. While Maharashtra, Delhi and Tamil Nadu emerged as hotspots for Covid-19 cases in India, states of Andra Pradesh, Uttar Pradesh, West Bengal, and Tamil Nadu have seen a sudden spike in the number of cases.