Dr. Reddy’s Laboratories, which produces the vaccine in India, announced today that an imported dose of Russia’s Sputnik V coronavirus vaccine will cost $995.40. Sputnik V COVID-19 is the third vaccine to be approved for use in India, with a 91.6 percent efficacy rate.
The devastating second wave of the pandemic in India has resulted in high demand for vaccines, leaving India, the world’s largest vaccine manufacturer, short on supplies.
The cost of imported doses would require a 5% GST charge per dose. Sputnik V doses made in India, on the other hand, are likely to be less expensive.
First doses of #SputnikV administered in India. On the picture Deepak Sapra, Global Head of Custom Pharma Services at @drreddys Laboratories is getting a shot of Sputnik V in Hyderabad. ✌️ pic.twitter.com/iBbTeB2DmT— Sputnik V (@sputnikvaccine) May 14, 2021
India reported 3,43,144 new coronavirus cases on Friday, taking the total number of cases in the country to 2,40,46,809 since the pandemic started in January of last year. The death toll rose by 4,000 people to 2,62,317. There are 37,04,893 active cases, and 2,00,79,599 patients that have recovered.
“We are in discussions with the Russian Direct Investment Fund (RDIF) to import the vaccine towards the end of May,” a senior Dr. Reddy’s executive said on a post-earnings press conference
“Our total commitment contracted from RDIF is 250 million doses, of which the initial 15%-20% is expected through imports,” the executive, M V Ramana, added.
Sputnik V is a two-dose vaccine that has been shown to be 91.6 percent effective in preventing COVID-19, which is higher than the two vaccines currently approved in India.
According to the Center, the vaccine is expected to be available in the market by next week, as the vaccine shortage in various states escalated and vaccination restrictions were imposed.
After the Pfizer and Moderna vaccines, Sputnik V is one of only three vaccines in the world with such a high efficacy score. The two-dose vaccine has also received the majority of global approvals. The vaccine, which costs less than $10 per dose in foreign markets, has already been provided to more than 20 lakh people around the world.
According to Johns Hopkins University, the coronavirus has infected 16.08 crore people worldwide and killed over 33.40 lakh people since the pandemic began in December 2019.