HomeNewsBusinessEconomyEXPLAINED | Why government's funding of 3 PSEs won't raise overall vaccine production anytime soon

EXPLAINED | Why government's funding of 3 PSEs won't raise overall vaccine production anytime soon

The Centre's plan to increase Covaxin production 6-7 times by August-September, relies on the premise that manufacturing can be quickly ramped up at government owned biomedical companies. But apart from the absence of a biosafety level 3 facility which usually takes a year to be constructed, the lack of support infrastructure, rushed deadlines and massive need for investment also threaten to push the deadline further back.

April 19, 2021 / 17:57 IST
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File image of the Covaxin COVID-19 vaccine
File image of the Covaxin COVID-19 vaccine

Amid spiralling Coronavirus cases across the country, Centre announced financial support to three government owned biopharmaceutical institutions to bulk up the production of Covaxin on April 16.

The government also announced that it will provide Rs 65 crore to the only manufacturer of the vaccine currently, Hyderabad-based Bharat Biotech International.

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As a deadly second wave continues to grip the country, an acute shortage of vaccines have become evident nationwide. With domestic production remaining stagnant, the government last week announced fast track approval would be provided to all foreign-made vaccines which have already received emergency approval from pharma regulatory bodies in the United States, Japan, European Union, United Kingdom and the World Health Organization.

But as reported by Moneycontrol, the process remains long and the number of steps to vet the vaccines or the requirements for them to be commercially sold has not been reduced. Senior officials say talks with foreign vaccine makers are slowly just beginning and it will be a while for any foreign vaccine to hit the market commercially.