Bharat Biotech To Get ₹65 Cr From Govt To Boost Covaxin Production
Mumbai: The government has announced financial assistance worth ₹65 crores to Bharat Biotech to ramp up manufacturing of its COVID-19 vaccine, Covaxin.
The government will also provide Mumbai-based Haffkine BioPharma with ₹65 crores for setting up a facility to produce Covaxin.
Under Atmanibhar Bharat 3.0 Mission COVID protection, the Department of Biotechnology is providing financial assistance in the form of grants for vaccine manufacturing facilities for enhanced production capacity.
“India Biotech’s current production capacity of Covaxin will double by May-June 2021, and will then increase approximately 6-7 times by July-August 2021. Production of 6-7% vaccine dose increases from 10 million vaccine doses in April 2021 to 6-7 crore vaccine dose/month in July–August. It is expected to reach nearly 10 crore doses per month by Sep 2021,” a release said.
As a part of the plan, the capabilities of Bharat Biotech, as well as other public sector manufacturers, are being upgraded with the necessary infrastructure and technology. The government is being provided financial assistance in the form of assistance of Rs 65 crore for Bharat Biotech’s new Bangalore facility, which is being repurchased to increase vaccine production capacity.
In addition, Haffkine Biopharmaceutical Corporation Limited of Mumbai has raised Rs. There will also be a grant of Rs. 65 crores Rs. “Financial assistance in the form of a grant from Goi, amounting to about Rs 65 crore will be provided to Hafeekin to be ready for manufacturing. The company sought approximately 12 months’ time to complete the work. However, the Central government has asked them to expedite and complete the task urgently within 6 months. The facility will have a capacity of 20 million doses per month, once functional,” the release said.
Meanwhile, the Center on Thursday approved the production of Covaxin from the Hafkin Institute in Mumbai.
Since last month, Chief Minister Uddhav Thackeray has repeatedly requested Prime Minister Narendra Modi to allow the production of vaccines at the famous institute in central Mumbai.
The 122-year-old Haffkine Institute was approved by the Center late Thursday night to produce India Biotech’s Kovaxin for a year under a technology transfer agreement.
Shortly after the announcement, Thackeray thanked the PM for the formal nod.
The Haffkine Institute has the capacity to produce 22-crore doses annually, which would immensely help the ongoing vaccination drive in the country.
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