Bharat Biotech defends its higher price in private markets

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Bharat Biotech, the manufacturer of Covid vaccine Covaxin, is known to be selling at a higher price in private markets. While there are many objections to selling the vaccine at two different prices, the pharma giant has said that the current price at which the vaccine is being supplied to the central government is not sustainable. Hence, a higher price in private markets is needed to balance part of the costs.

Bharat Biotech said that they are supplying the vaccine for Rs 150 for the Centre. The company said that it is not possible to supply at such a low price in the long run.

It said it needed to sell at a higher price in the private market to make up for some of the damage done there. Therefore, Bharat Biotech has made it clear that the price of vaccines supplied to the private sector cannot be reduced. According to Bharat Biotech, less than 10 percent of vaccine production goes to the private sector.

Bharat Biotech has so far invested over Rs 500 crores at risk from its own resources for product development, clinical trials and setting up of manufacturing facilities for Covaxin, the company said.

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