Encouraging the Vaccine manufacturers to pump up production ahead of May 1 for the ‘World’s Largest Vaccination Drive’ in India would be top on the agenda of Prime Minister Narendra Modi’s meeting with various vaccine manufacturers today evening.
The government is expecting that the vaccine supply will go up significantly as the inoculation is being opened up through private sector channel from May 1 for everyone above 18 years of age, which will incentivise vaccine manufacturers to have flexible pricing for that channel, attracting new manufacturers to the country at the same time.
The government is currently seeking only 50 percent stocks for itself for vaccines manufactured in India against 100 percent earlier. Moreover, it has not sought any share in vaccines imported from abroad. The appeal to vaccine manufacturers in India and abroad may hence be to make the most of this chance to help India tide over the crisis of the second coronavirus wave.
The government has approved Rs 4,500 crore as advance payments to two vaccine manufacturers- Serum Institute of India and Bharat Biotech, to enhance their vaccine production. These companies could be asked to now use this big monetary help to ramp up production as the demand for the vaccine is expected to go up in a big way from May 1 with the vaccine being available for everyone above 18 years of age through the private sector route.
A government source said they are expecting the demand from those above 45 years for vaccine to “plateau out” by April 30 and a significant number of senior citizens above 60 years of age to be fully vaccinated by then as well. The government is also banking on the swift import of stocks of the Sputnik V vaccine in May to cater to the increased demand and hopes the Sputnik V vaccine to be eventually manufactured in India in a few months.
Dr Reddy’s Laboratories, which is the partner of Russian Direct Investment Fund (RDIF) in India, will also be a part of the PM Modi’s meet with the manufacturers today.
With both Serum Institute of India and Bharat Biotech now having the liberty from May 1 to supply 50% of their vaccine stocks directly to state governments or private parties in the open market, these companies will now be able to sell their vaccine in the open market at a price which may be slightly more at what they have supplied it to the government so far, and which they will publicly declare soon, that may also prove to be a factor in them ramping up production and supplies.
Foreign manufacturers could also be more attracted to India under the new channel, sources in the government said. “PM said that the Government has been working hard from over a year to ensure that maximum numbers of Indians are able to get the vaccine in the shortest possible of time. He added that India is vaccinating people at world record pace& we will continue this with even greater momentum,” said a government statement on Monday after PM approved the new policy of universal vaccination from May 1.
Few days back, the government had also said that the current production capacity of Bharat Biotech’s Covaxin vaccine will be doubled by May-June 2021 and further increased 6-7 fold by July-August 2021. While 10 million doses of Covaxin were supplied in April, the government is expecting 60-70 million vaccine doses per month supply by July or August and 100 million doses per month by September.
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