Serum Institute of India, world's largest vaccine manufacturer, will market the nanoparticle protein-based vaccine in Indonesia under the brand name Covovax.
Under the deal, Biocon Biologics Ltd (BBL) will offer approximately 15% stake to Serum Institute Life Sciences at a post-money valuation of about Rs 35,000 crore.
If projections of all four vaccine companies in India — SII, Zydus Cadila, Bharat Biotech and Biological E — are met, India is likely to acquire 100 crore more doses between October and December 2021.
SII has enhanced the manufacturing capacity of Covishield to more than 20 crore doses per month, and the latest consignment ordered by Centre is to be supplied by December.
Modi govt, which projected 15 crore doses would be available in August, managed to achieve its 1 crore-doses-a-day plan last week. Meanwhile, Covaxin production lags.
In a production plan submitted to the Centre in May, SII’s director communicated that the production of Covishield would be ramped up to 10 crore each in August, September, said sources.
SII also sought permission to use the remaining quantities of batches of Covid and non-Covid vaccines for commercial purposes which have been used in the clinical trials.
Pune-based vaccine manufacturer SII has already received cell and vector samples for the production of Sputnik V from Russia's Gamaleya Center, the developer of the vaccine.
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