Serum Institute of India said on Friday (Aug 7) it would receive US$150 million in funding from the Bill & Melinda Gates Foundation and the GAVI vaccines alliance to make 100 million COVID-19 vaccine doses for India and other emerging economies as early as 2021.
The candidate vaccines, including those from AstraZeneca and Novavax, will be priced at US$3 a dose and will be made available in 92 countries in GAVI’s COVAX Advance Market Commitment, the company said in a statement.
The Gates Foundation will provide the funds to GAVI, which will be used to support Serum Institute.
GAVI, backed by the Gates Foundation, is a public–private global health partnership with the goal of increasing access to immunization in poor countries.
It co-leads COVAX – a scheme designed to guarantee fast and equitable access globally to COVID-19 vaccines – along with the World Health Organization and the Coalition for Epidemic Preparedness Innovations.
COVAX aims to deliver 2 billion doses of approved and effective COVID-19 vaccines by the end of 2021.
