Due to low demand, about 50 million doses of Covaxin, a COVID-19 vaccine produced by Bharat Biotech, are expected to run out early in the following year.
Despite having planned for production to achieve a yearly capacity of 1 billion doses by the end of 2021, Bharat Biotech, halted manufacturing the two-dose immunization Covaxin earlier this year due to a lack of consumer demand.
More than 200 million doses of Covaxin are available in bulk from Bharat Biotech, and about 50 million doses are available in vitals that are ready for use. Accordingly, to sources who spoke to the media, the production of Covaxin was stopped earlier this year due to a lack of customer demand.
According to additional sources, “Covaxin doses in vitals are set to expire in early 2023, resulting in losses for the corporation.”
However, it is unknown how much money Bharat Biotech would lose if all 50 million medicines ran out next year. According to data from Union Health Ministry, India recorded 1,082 new COVID-19 cases on Saturday, while the total number of active cases fell to 15,200.
As of right now, 219.71 ceore doses of COVID-19 vaccines, including Covaxin, have been administered as part of the national vaccination program. Covaxin exports suffered as a result of other countries’ poor acceptance because the global infection rate has been steadily declining.
The World Health Organization (WHO) said in April of this year that it had confirmed the suspension of Covaxin supplies through UN procurement agencies and adviced countries utilizing the vaccine to take proper steps.
Following a scandal that prompted an investigation by authorities in Brazil, the Brazilian government delayed its decision to import 20 million doses of Covaxin in 2021, when the COVID-19 illness was at its worst. The agreement that Bharat Biotech had Precisa Medicamentos and Envixia Pharmaceuticals LL.C., for their COVID-19 vaccine, Covaxin, for the Brazilian market was cancelled on July 23, 2021, according to the company.
According to Bharat Biotech, the COVID-19 vaccine Covaxin’s shelf life has been extended by the Central drugs Standard Control Organization (CDSCO) to 12 months from the date of manufacturing.