Hyderabad-based vaccine manufacturer Bharat Biotech on Tuesday issued a statement explaining why Covaxin remains the most expensive COVID-19 vaccine in India.
According to the company from low procurement volumes, high distribution costs, and retail margins are some of the reasons contributing to the higher pricing of Covaxin to the private sector.
Bharat Biotech, which indigenously developed Covaxin with the aid of the Indian Council of Medical Research (ICMR), had priced its vaccine at Rs 600 for state governments and Rs 1,200 for private hospitals.
The Central government had allowed Serum Institute of India and Bharat Biotech to set their own prices for COVID-19 vaccines for procural by private entities and state governments.
However, after widespread public outcry and criticisms from various state governments, the company had slashed the rates to Rs 400 for state governments.
Bharat Biotech stated that less than 10% of its total production of Covaxin…