Covid-19 vaccines has been developed by the University of Oxford-AstraZeneca and Novavax. In order to rapidly manufacture more quantities of this vaccine, The Bill and Melinda Gates Foundation has decided to provide 150 million in at risk funds towards helping Serum Institute of India for the production. The collaboration, which involves the Global Alliance for Vaccines and Immunization (GAVI), the Vaccine Alliance.

GAVI will be providing the SII with “upfront capital” through the foundation’s strategic investment funds. This is expected to help the Pune-headquartered vaccine maker increase its manufacturing capacity to produce either or both vaccines “at scale” for distribution. Once the SII receives approval of the regulatory and World Health Organization pre-qualifications the doses are expected to be produced “as early as the first half of 2021”.

The coronavirus vaccine is all set, though there is a bit of uncertainty, it is believed by most of the experts and others that the covid-19 vaccine will be a reality only in 2021 and not anytime sooner. The next point of interest for the public is the price of the vaccine. The question is slowly being answered. The cheaper price of vaccine will be helped by the Bills and Melinda Gates Foundation as funding’s will help decrease the cost.

On Friday, Serum Institute of India, the world’s largest manufacturer of vaccines by volume, said that at least 100 million doses of potentially billions that it plans to produce, would be available at $3 which when converted to Indian rupees will be Rs. 225 and can averagely cost Rs. 240. This is at par and is the lowest price offered among the various providing of covid vaccine candidates.

This ceiling price is only for vaccines proposed to be distributed to 92 countries under the Covax Alliance. And is co-led by Gavi, Coalition for Epidemic Preparedness Innovations (CEPI) and the World Health Organization, formed to accelerate development of Covid-19 vaccines and ensure their rapid and equitable access.

The distribution of this vaccine will be done according to COVAX mechanism.