: Coronavirus: India finalises deal with vaccine maker Biological-E for 30 crore doses #IndiaNEWS The Centre on Thursday announced that it has finalised a deal with Hyderabad-based Biological-E to reserve

Coronavirus: India finalises deal with vaccine maker Biological-E for 30 crore doses #IndiaNEWS
The Centre on Thursday announced that it has finalised a deal with Hyderabad-based Biological-E to reserve 30 crore coronavirus vaccine doses. The vaccine, which is currently undergoing phase 3 clinical trials, is likely to be available in the next few months, the health ministry said in a statement.The health ministry will make an advance payment of Rs 1,500 crore to the vaccine manufacturer. This will be the second indigenous vaccine to be used in the country after Bharat Biotech’s Covaxin. These doses will be manufactured and stockpiled by Biological-E from August to December 2021.“The proposal of Biological-E was examined and recommended for approval after due diligence by National Expert Group on Vaccine Administration for Covid-19,??? the ministry said. The statement said that company was given over Rs 100 crore in financial assistance by the Department of Biotechnology, which has also partnered with it to conduct various studies. This is part of the government’s mission to support five to six new vaccine candidates, it added.The announcement comes at a time when the Narendra Modi government is trying to allay concerns about shortages of vaccine and ward off allegations of mishandling of the inoculation drive. Health experts have warned that India needs to increase its current pace of vaccination to reduce...Read more

Stock Market NEWS Best intraday tips Intraday Stocks below 100