Coronavirus: SII's Adar Poonawalla Says We Believe Rs. 3,000 Crore Will Reach Us Soon, Not Waited, Borrowed

Coronavirus: SII's Adar Poonawalla Says We Believe Rs. 3,000 Crore Will Reach Us Soon, Not Waited, Borrowed

ndtv.com

Adar Poonawalla said the SII has borrowed from banks to begin ramp-up of its vaccine.

After the centre announced Rs. 4,500 crore to boost production of the Covaxin and Covishield vaccines, Serum Institute of India says it has borrowed from banks to begin ramp-up of its vaccine immediately instead of waiting for the government's aid to arrive.

Covishield will be sold at Rs 400 a shot to states and Rs 600 to private hospitals, Serum said today. The centre will continue to receive Covishield doses at Rs 150 each.

Days ahead of a new round of vaccinations from May 1 that will include all above 18 - this will require nearly two million more doses a month - Serum's CEO Adar Poonawalla says he expects to be able to provide 100 million doses per month after July.

"The Rs 3,000 crore amount we keep seeing in the media has been sanctioned. We believe it will come to us very soon. We have not waited but borrowed from the banks to get on with the ramp-up, with the assumption that this funding from the government will reach us very soon...this week," Adar poonawalla told NDTV in an exclusive interview.

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