A day after slashing the price of the precaution dose of Covishield to Rs 225 per shot for private hospitals, the Serum Institute of India (SII) told the Centre on Sunday that it will compensate for the price difference for the unexpired stocks lying with private centres in the form of free vials of fresh stocks, official sources said.
Vaccine majors SII and Bharat Biotech on Saturday said they have decided to cut the prices of the precaution dose of their respective COVID-19 vaccines to Rs 225 per shot for private hospitals after discussions with the government.
Bharat Biotech had also announced that the price differential with any existing stocks of Covaxin in private hospitals shall be compensated in the form of additional doses.
In a communication to the Union health ministry, Prakash Kumar Singh, director, government and regulatory affairs at the SII, on Sunday said, "As per direction of Dr Adar C Poonawalla, we want to inform you that we will compensate the price difference for the current unexpired stocks lying with private Covid vaccination centres (CVCs)."
"The difference between Rs 600 plus GST and our recent price of Rs 225 plus GST would be compensated in the form of free vials of the fresh stocks of Covishield," Singh is learnt to have conveyed in the communication.
The inventories at the private CVCs would be verified by SII representatives and the claim would then be processed on the basis of their approval.
India began administering the precaution dose of COVID-19 vaccines to all beneficiaries aged above 18 years at private vaccination centres from Sunday.
Those above the age of 18 and who have completed nine months after the administration of the second dose of the vaccine will be eligible to receive the precaution dose.