(C) Reuters. FILE PHOTO: A health official draws a dose of the AstraZeneca’s COVID-19 vaccine manufactured by the Serum Institute of India, at Infectious Diseases Hospital in Colombo
NEW DELHI (Reuters) – The Serum Institute of India, the world’s biggest vaccine manufacturer, has asked the government for a grant of 30 billion rupees ($402.97 million) to increase its capacity to make AstraZeneca (NASDAQ:AZN)’s COVID-19 vaccine.
It is seeking the money to ramp up monthly production to more than 100 million doses by the end of May, the government said in a statement on Wednesday, noting output was currently around 65-70 million doses a month.
The company is making vaccine doses for dozens of mainly poorer countries, though it has supplied Britain, Canada and Saudi Arabia due to AstraZeneca production issues elsewhere.
About 90% of the 86 million doses India has administered since mid-January have come from the institute, with the rest accounted for by a domestic vaccine developed by Bharat Biotech, which is also struggling to boost output.
Some Indian states have complained of a vaccine shortage even though immunisations are currently limited to front-line workers and people aged over 45, or 400 million of India’s 1.35 billion people.
($1 = 74.4480 Indian rupees)
India’s Serum Institute asks government for $403 million to boost AstraZeneca vaccine output
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.