Bharat Biotech announced on April 24 that its COVID-19 vaccine Covaxin will be sold at Rs 600 per dose to states, and Rs 1,200 per dose to private hospitals during the third phase of India’s coronavirus vaccination drive. “Following the Govt of India directives, we announce the prices of COVAXIN vaccines – Rs 600 per dose for state hospitals and Rs 1,200 per dose for private hospitals,” Bharat Biotech said in a statement.

On Saturday, Serum Institute CEO Adar Poonawalla had to issue a statement justifying the price increase on the grounds that it was required to make it sustainable for the company to invest in scaling up capacity. The company maintained that Covishield was the most affordable Covid-19 vaccine. The initial supply price of Covishield for all government immunization programmes including India’s, has been the lowest, he said. The low price was also possible as advance funding was available, the company argued.

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“The price of the vaccine is still lower than a lot of other medical treatment and essentials required to treat Covid-19 and other life-threatening diseases,” Poonawalla said. Only a limited portion of Serum Institute’s volume will be sold to private hospitals at Rs 600 per dose, he said. “Government procurement for country-wide immunization programmes in all countries including India has been at a far lower price as the volumes are very large,” the statement added.