Pfizer Inc has approached the Indian government with an offer to produce doses of its COVID-19 vaccine locally. This is a rapid shift from the pharmaceutical company’s initial stance, which was to import doses to India from the United States and European manufacturing facilities.
The proposal to produce vaccines locally depends on the fulfillment of one prerequisite: that Pfizer is to be assured of faster regulatory clearance and freedom on pricing and exports. While Pfizer was the first COVID-19 vaccine developer to apply for emergency use authorization in India, its request was ultimately denied due to the producer’s failure to adhere to the drug regulator’s request for a small local study.
According to Reuters, one source explained that “U.S. companies want to produce vaccines in India under joint ventures.” Another source confirmed the validity of Pfizer’s offer to the Indian government.
Should Pfizer’s request be fulfilled, it will not be the first drug manufacturer to set up production of a coronavirus vaccine in India. The Serum Institute of India, the world’s largest vaccine manufacturer, is already contracted to manufacture the Oxford University/AstraZeneca Plc COVID-19 vaccine in bulk.
Pfizer Inc shares gained 0.7% at $34.69 in market trading on the last check of Wednesday.
