The Union government is making an advance payment of INR 1500 crore. Supply will start in August.
The Union government has sealed a deal with Hyderabad-based Biological-E for the supply of 30 crore doses of its Covid-19 vaccine.
The government is making an advance payment of INR 1500 crore to the company to support it in its research and development.
Biological-E will start the delivery of the vaccine from August.
The government said “These vaccine doses will be manufactured and stockpiled by M/s Biological-E from August-December 2021…the Union Ministry of Health would be making an advance payment of Rs. 1500 crore to M/s Biological-E.”
The Union Ministry of Health informed about the development in a press release Thursday morning.
The statement read “The COVID-19 vaccine of Biological-E is currently undergoing Phase-3 clinical trial after showing promising results in Phase 1 and 2 clinical trials.”
The National Expert Group on Vaccine Administration for COVID-19 (NEGVAC) examined the proposal from Biological-E and recommended it for approval.
The government is supporting efforts to develop Indian vaccines against Covid-19.
Under its “Mission COVID Suraksha- the Indian COVID-19 Vaccine Development Mission” which was launched as part of third stimulus package Atmanirbhar 3, the government is supporting development of 5-6 vaccines to vaccinate billion plus population and provide safety against Covid-19.