Tag: cci

Zomato share price falls 5% after CCI orders probe

Zomato share price falls 5% after CCI orders probe
Tuesday, April 5, 2022
Zomato's share price fell as much as 4.7 percent to Rs 82.15 apiece on BSE in intraday deals on Tuesday, after the Competition Commission of India (CCI) initiated an investigation into its and Swiggy’s business practices. Being, prima facie, satisfied with some allegations made by the National Restaurant Association of India ("NRAI"), the CCI had directed the DG to carry out a detailed investigation as per Section 26(1) of the Act and submit a report within 60 days from receipt of order.“The Hon’ble Commission has mentioned that it has prima facie not found concerns with respect to our independence on levy of commissions or alleged bundling of services, while it would want to investigate aspects such as a preferential listing of restaurant partners and pricing parity across platforms, etc,” Zomato said in a BSE filing. Read more

New and Stricter Covid-19 curbs back in India as Omicron cases multiply

New and Stricter Covid-19 curbs back in India as Omicron cases multiply
Wednesday, January 5, 2022
India is in the emerging stage of the third wave of COVID-19 pandemic with a surge in Omicron cases amid an increase in the test positivity rate, more than 37,000 cases on Tuesday (the highest in 118 days), and an uptick in hospitalisation. The number of Omicron cases in the country detected till Tuesday morning reached 1,892. Experts have warned in a country with a huge population such as India, a small proportion of severe Omicron cases could put the health infrastructure to the test. More restrictions such as weekend curfews halved capacity in private offices, and work from home in government offices was imposed in Delhi while the Mumbai authorities warned of lockdown measures if the number of daily cases crossed 20,000. Read more

FM Nirmala Sitharaman to look into bottlenecks that push IT companies to register outside India

FM Nirmala Sitharaman to look into bottlenecks that push IT companies to register outside India
Tuesday, September 14, 2021
Union Finance Minister Nirmala Sitharaman, Yesterday (13th Sept. 2021) said that she would look into bottlenecks that push SaaS companies to register outside India. Sitharaman interacted with industry representatives from CII and FICCI, where she heard requests and took feedback from various sectors. Entrepreneurs from Tamil Nadu, a hub for the SaaS sector, urged the Finance Minister to look into issues that may hinder IT products which are set to lead to value creation, a report said. The founder of Kissflow, Suresh Sambandam, said that with a $1-trillion opportunity, the SaaS sector can play a key role in the government’s ambitions of reaching a $5-trillion economy. India, however, is losing out on wealth creation as entrepreneurs prefer to register the companies outside India due to various bottlenecks. Read more

Indian Economic recovery to continue even in event of third wave: FinMin

Indian Economic recovery to continue even in event of third wave: FinMin
Thursday, September 9, 2021
Today (9th September 2021) the Finance Ministry said that economic recovery, which was impacted during the second wave, will see faster revival in the next three quarters of the current financial year, even if the third wave hits the country. It is said that this confidence is mainly due to a rapid surge in the inoculation drive and a rebound in leading macroeconomic indicators. “Rapidly increasing vaccination coverage and richer experience with pandemic management provide the confidence that the recovery can continue even in the event of a third wave,” the finance ministry’s Department of Economic Affairs said in its monthly review for August. Read more

Apple hit with antitrust case in India over in-app payments issues

Apple hit with antitrust case in India over in-app payments issues
Thursday, September 2, 2021
Apple Inc is facing an antitrust challenge in India for allegedly abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system. The allegations are similar to a case Apple faces in the European Union, where regulators last year started an investigation into Apple's imposition of an in-app fee of 30% for the distribution of paid digital content and other restrictions. The case was filed by a little-known, non-profit group that argues Apple's fee of up to 30% hurts competition by raising costs for app developers and customers, while also acting as a barrier to market entry. "The existence of the 30% commission means that some app developers will never make it to the market. This could also result in consumer harm," said the filing, which has been seen by Reuters. Read more

Panacea Biotec gains 9 percent on regulator’s nod to produce Sputnik V jabs

Panacea Biotec gains 9 percent on regulator’s nod to produce Sputnik V jabs
Monday, July 5, 2021
Shares of Panacea Biotec surged 9 percent to Rs 411 on the BSE in the intra-day trade on Monday after the company announced that it has received a manufacturing license to produce Sputnik V vaccine at its Baddi (Himachal Pradesh) plant, after the first batch of the covid-19 vaccine cleared all quality-control tests at the Gamaleya Center, Russia, the company said. “Panacea Biotec is delighted to announce the obtaining of the manufacturing license to produce Sputnik V vaccine in India. On this occasion, we thank the leadership of our Hon’ble Prime Minister Modi Ji and Government of India for timely handholding and expediting clearances to enable ‘Make in India’ vaccines," said Dr. Rajesh Jain, Managing Director, for Panacea Biotec. Sputnik V has been part of India’s covid vaccination drive since 14 May after receiving the emergency use authorization on 12 April. Sputnik V has been registered in 67 countries globally, covering a total population of over 3.5 billion people. Read more

Moody's slashed India's growth projection to 9.6% from earlier estimate of 13.9% for 2021

Moody's slashed India's growth projection to 9.6% from earlier estimate of 13.9% for 2021
Wednesday, June 23, 2021
Moody's today(23rd June 2021) slashed India's growth projection to 9.6 percent for the 2021 calendar year, from its earlier estimate of 13.9 percent, and said faster vaccination progress will be paramount in restricting economic losses to the June quarter In its report titled 'Macroeconomics India: Economic shocks from second COVID wave will not be as severe as last year's, Moody's said high-frequency economic indicators show that the second wave of COVID-19 infections hit India's economy in April and May. With states now easing restrictions, economic activity in May is likely to signify the trough. "The virus resurgence adds uncertainty to India's growth forecast for 2021; however, it is likely that the economic damage will remain restricted to the April-June quarter. We currently expect India's real GDP to grow at 9.6 percent in 2021 and 7 percent in 2022," Moody's said. Read more

Curevac's Covid 19 Vaccine Disappoints in Clinical Trial

Curevac's Covid 19 Vaccine Disappoints in Clinical Trial
Thursday, June 17, 2021
The German company CureVac dropped more than 50% in the extended session Wednesday after the company said its COVID-19 vaccine candidate is 47% effective in preventing the disease. The trial, which included 40,000 volunteers in Latin America and Europe, estimated that CureVac’s mRNA vaccine had an efficacy of just 47 percent, among the lowest reported so far from any Covid-19 vaccine maker. The trial will continue as researchers monitor volunteers for new cases of Covid-19, with a final analysis expected in two to three weeks. The CureVac vaccine is of key importance to Europe, which has preordered 225 million doses, with the option to buy 180 million more. “While we were hoping for a stronger interim outcome, we recognize that demonstrating high efficacy in this unprecedented broad diversity of variants is challenging,” Chief Executive Franz-Werner Haas said in a statement. Read more

No change in GST on vaccines, but tax cut for other Covid essentials

No change in GST on vaccines, but tax cut for other Covid essentials
Saturday, June 12, 2021
In its 44th meeting today(12th June 2021), the Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, approved all recommendations of GoM on rate rationalisation. The GoM, set up by the Council on May 28, was mandated to look at tax exemption and concessions on various Covid items including vaccines, drugs, and equipment. GST on ambulances has been reduced to 12% from the current 28%. GST Council slashed the tax rate from 12% to 5% on medical grade oxygen, BiPaP machines, oxygen concentrators, ventilators, hand sanitisers, temperature check equipment, high flow nasal cannula, pulse oximeter. Also, the tax on Covid testing kits has been brought down to 5% from 12%. "Today's meeting was a single-agenda meeting on the Group of Ministers which was constituted in last GST Council meeting to come up with recommendations on tax relief for Covid-19 essentials," said Finance Minister. Read more

Dr Reddy’s Laboratories launched COVID vaccine Sputnik V in the Indian market

Dr Reddy’s Laboratories launched COVID vaccine Sputnik V in the Indian market
Friday, May 14, 2021
Russia’s Covid-19 vaccine Sputnik V launched in India on Friday, with the first dose being administered in Hyderabad. The price of the imported vaccine is priced at a maximum retail price of Rs 948, with 5 percent GST per dose, amounting to Rs 995.4 per dose. Dr. Reddy's Laboratories (DRL), the Indian distribution partner for the vaccine, said that the first consignment of the imported doses landed in India on May 1 and received regulatory clearance from the Central Drugs Laboratory, Kasauli, on May 13. Dr Reddy's on May 14 said it plans to vaccinate 125 million people in the next 8-12 months with the Sputnik vaccine. About 15-20 percent of the initial supplies would be imported from Russia."With the rising cases in India, vaccination is the most effective tool in our battle against COVID-19. Contributing to the vaccination drive in India is our biggest priority right now to help Indians be healthy and safe," said G V Prasad, co-chairman and Managing Director of DRL. Read more

Air India pilots threaten to stop work if not vaccinated on priority

Air India pilots threaten to stop work if not vaccinated on priority
Tuesday, May 4, 2021
Air India pilots union - ICPA - has raised an issue with Air India Director Captain R S Sandhu that they will "stop work" if the airline fails to set up vaccination camps on a 'Pan India' basis for the flying crew above the age of 18 years Also said, "With no healthcare support to the flying crew, no insurance, and a massive opportunistic pay cut, we are in no position to continue risking the lives of our pilots without vaccination. "Our finances are already spread thin covering our bedridden colleagues and provisioning for families lest we inadvertently infect them with the deadly virus that is an ever-present occupational hazard for us." According to the union, many crew members have been diagnosed as Covid positive and are struggling to get oxygen cylinders."The employees who are doing desk jobs and the majority opting to work from home are allowed to get vaccinated, leaving the flying crew vulnerable."

Pharma index hits record high as govt launches phase 3 of Covid vaccination

Pharma index hits record high as govt launches phase 3 of Covid vaccination
Tuesday, April 20, 2021
Shares of pharmaceutical companies are in demand with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to a spike in demand for Covid-related drugs. Shares of Cadila Healthcare up 6.17 per cent, Dr Reddy's Laboratories up 4.58 per cent, Aurobindo Pharma up 3.42 per cent, Lupin up 3.1 per cent and Sun Pharmaceutical Industries up 1.97 per cent were among the top gainers. Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.Dr Reddy's stock is in focus after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June. Read more

Johnson & Johnson set to begin its trial of single-dose vaccine in India

Johnson & Johnson set to begin its trial of single-dose vaccine in India
Friday, April 9, 2021
Johnson & Johnson is in talks with India's government to begin a clinical trial of its single-dose COVID-19 vaccine in the country, the company said on Friday. India is looking to ramp up its vaccine doses amidst high demand due to the second surge of coronavirus in the country, with several states saying they are running out of supplies. Top government sources told The Indian Express that J&J will soon conduct the trials, which could pave the way for its vaccine to be marketed in India. “Johnson & Johnson has sent a letter to the CDSCO (Central Drugs Standard Control Organisation) that they will very shortly apply for permission to conduct clinical bridging trials in India,” the sources said. A bridging study tests the safety and immunogenicity of a vaccine, and India has indicated that any vaccine maker must conduct such a trial for a shot to be considered for its immunisation programme.

Panacea Biotec surges 20% as company to make 100 mn Sputnik V doses yearly

Panacea Biotec surges 20% as company to make 100 mn Sputnik V doses yearly
Tuesday, April 6, 2021
Shares of Panacea Biotec were locked in the upper circuit of 20 per cent at Rs 220.85 on the BSE in Tuesday's session after the company and the Russian Direct Investment Fund (RDIF) agreed to produce 100 million doses of Sputnik V vaccine in India per year.Production of Sputnik V at Panacea Biotec sites will help facilitate the global supply of Sputnik V to international partners of RDIF, a joint statement said.Panacea Biotec will produce Sputnik V in its internationally accredited facilities complying to strict GMP standards and prequalified by the World Health Organization (WHO), he added. Efficacy of Sputnik V is 91.6 per cent as confirmed by the data published in the Lancet, one of the world's oldest and most respected medical journals," the release said.

From April 1st , people above 45 years can get vaccinated

From April 1st , people above 45 years can get vaccinated
Tuesday, March 23, 2021
The government on Tuesday allowed people above 45 years to get vaccinated against coronavirus from April 1."It has been decided that from April 1, the (COVID-19) vaccine will open for everybody above 45 years of age. We request that all those eligible should immediately register and get vaccinated," Javadekar said. Until now, apart from those aged above 60, only those with co-morbidities and aged above 45 can get vaccinated. Javadekar, while briefing the press following the Union Cabinet meeting, added that scientists have found that the second dose of the Covishield vaccine can be taken up to eight weeks after the first dose, as opposed to the initial recommendation of up to six weeks.

India recorded a steady rise in the Covid-19 active cases over the past few days

India recorded a steady rise in the Covid-19 active cases over the past few days
Monday, February 22, 2021
India has recorded a steady rise in the Covid-19 active cases over the past few days. On 21st Feb.2021 (Sunday), the country registered 14,199 fresh Covid-19 cases. Active cases in India have risen to 150,055, while the caseload tally has crossed the 11-million mark. The country continues to be second-most-affected globally and ranks 14th among worst-hit nations by active cases. Till February 21, a total of 11,116,854 vaccine doses have been administered through 230,888 sessions. Maharashtra, which recorded 6,900 new cases, has announced a state-wide ban on social, political, and religious gatherings, besides imposing fresh local lockdowns or curbs in districts like Pune and Amravati. The five most affected states by total cases are Maharashtra (2,093,913), Kerala (1,034,657), Karnataka (948,149), Andhra Pradesh (889,298), and Tamil Nadu (848,275) Read more

India's GDP is within the striking distance of attaining positive growth: RBI bulletin

India's GDP is within the striking distance of attaining positive growth: RBI bulletin
Thursday, January 21, 2021
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for the vaccine," said an article on the 'state of the economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles. "If successful, it will tilt the balance of risks upwards," said the authors who among others include RBI Deputy Governor Michael Debabrata Patra. Read more

Will Pfizer-BioNTech shot neutralise mutating coronavirus?

Will Pfizer-BioNTech shot neutralise mutating coronavirus?
Wednesday, January 20, 2021
Pfizer Inc. and BioNTech SE built the case that their Covid-19 vaccine will protect against the new UK variant. Like previous work out of the University of Texas Medical Branch, the results published today(20th January 2021) showed that antibodies in the blood of people who had been vaccinated were able to neutralize a version of the mutant virus that was created in the lab. The study was published on preprint server BioRxiv prior to peer review. Unlike the earlier study, which focused on one crucial mutation, the new research tested all 10 mutations located on the virus’s spike protein, which helps it bind to cells in the host. Antibodies in the blood of 16 volunteers in a previous German trial of the vaccine were just as effective against the lab-created mutant strain as they were against the original virus. The result “makes it very unlikely that the U.K. variant viruses will escape” protection from the vaccine, wrote a BioNTech research team.

Where is the coronavirus headed in India?

Where is the coronavirus headed in India?
Monday, January 11, 2021
There has been a steady decline in the daily number of cases and deaths, since the peak of mid-September in India when govt readies for a massive mass immunisation drive. Less than 300 daily coronavirus deaths were recorded in the country for the last 16 days with the national recovery rate improving to 96.42 percent, according to data from the union health ministry. Given that we will never know the true numbers during the pandemic or even after it, the trajectory is important and it has been on the downward slope, which leads to a pressing question- Is the worst of the pandemic over? It is hard to say if the first wave is ending and if there would be a second one. That depends on the number of people who have been exposed to the virus. Considering that India went through two important periods without any significant upturn – Dussehra to Diwali festive season and elections that followed, experts say it is safe to assume that the epidemic is under control. Read more

MARKET UPDATE:Sensex shot up 230 points to above the 48,000 levels for the first time ever and Nifty hovered around 14,100 zone

MARKET UPDATE:Sensex shot up 230 points to above the 48,000 levels for the first time ever and Nifty hovered around 14,100 zone
Monday, January 4, 2021
The markets in India made a firm start today(4th January 2021), recording their fresh new high, after the Indian drug regulator DGCI gave its approval to Covid vaccines produced by AstraZeneca and Bharat Biotech for emergency use in the country. Among the headline indices, the S&P BSE Sensex shot up 230 points and was trading above the level of 48,000 for the first time ever. The broader Nifty50 index also hovered around the 14,100 zones. ONGC, TCS, State Bank of India, Infosys, and IndusInd Bank (up 1% each) were the top Sensex gainers. On the other hand, Reliance Industries was trading with marginal cuts after Sebi imposed penalties on the conglomerate for alleged manipulative trading in the shares of erstwhile Reliance Petroleum, back in November 2007. Read more

Expectations from fixed income market in 2021: What experts say

Expectations from fixed income market in 2021: What experts say
Friday, January 1, 2021
The year 2021 will be marked with hopes for the early rollout of the Covid-19 vaccine, normalisation of economic activities, and a steady recovery in growth. India will see a slow cyclical recovery along with the gradual easing of inflation, though that may not be enough to sustain RBI’s accommodative policy stance. Interest rates will likely harden with no rate cuts and persistent fiscal pressure. Key risks for the government will be to steer through any financial sector stress, reviving the weak investment cycle, and any adverse issues with global liquidity. Two issues will shape India’s macro-economic situation in CY2021; easy money policies in developed markets and rollout/mass availability of Covid vaccines. Easier global monetary policies will aid risk-on flows, while vaccine rollouts Interest rates will likely harden with no rate cuts and persistent fiscal pressure. Read more

Pfizer may price Covid-19 vaccine lower in India than in UK and US

Pfizer may price Covid-19 vaccine lower in India than in UK and US
Wednesday, December 16, 2020
Pfizer has indicated that it will have differential pricing for different countries. In the US, the company has priced the vaccine for government procurement at $39 for two doses. In the UK, the vaccine is estimated to cost close to $40 for two doses. A Pfizer India spokesperson said the company would price the vaccine in a way that can help governments ensure there is little or no out-of-pocket costs for their population. As such, its global pricing strategy is dependent on volumes, advance commitments, and affordability. "Our vaccine approach is based on the principle of ensuring broad access and supplies to governments,’’ the spokesperson said. He added that the company remains ‘’committed to engaging with the government of India and exploring opportunities to make this vaccine available for use in the country."

India may not procure Pfizer and Germany’s BioNTech mRNA vaccine

India may not procure Pfizer and Germany’s BioNTech mRNA vaccine
Monday, December 14, 2020
Government sources have indicated that India may not procure the mRNA vaccine, which American major Pfizer and Germany’s BioNTech have developed, for the immunization drive. The higher cost of the Pfizer vaccine, already approved by the UK and the US regulators, is among the primary reasons why other options may be preferred by India. At $37 per dose, the Pfizer vaccine is much more expensive compared to $3 per dose for the Covishield, a vaccine developed by Oxford-AstraZeneca and manufactured by the Serum Institute of India, according to the sources. Also Unlike others, Pfizer would require minus 70 degree Celsius temperature for storage. Even the Russian vaccine Sputnik V is cheaper than Pfizer at $10 per dose. Indigenous vaccines from Bharat Biotech and Zydus Cadila are expected to be in the range of $3-6 per dose. The cost of cold-chain infrastructure to maintain the stringent temperature requirement for the Pfizer vaccine would add to the overall expenditure.

Covid-19 vaccine in India : Status of emergency use authorisation (EUA)

Covid-19 vaccine in India : Status of emergency use authorisation (EUA)
Wednesday, December 9, 2020
Bharat Biotech International (BBIL) had changed the dosage from 3 micrograms of antigen to 6 micrograms during its Covid-19 vaccine trial, a point that the subject expert committee (SEC) would closely examine when it meets on 9th December 2020 to review its application for an emergency use authorisation (EUA) for Covaxin. The panel would also review the applications of Pfizer-BioNTech and Serum Institute of India (SII) seeking a EUA for their vaccines. While many have raised questions over BBIL applying for a EUA during an ongoing efficacy trial, the Indian Council of Medical Research (ICMR), the country’s apex health research institute, has defended the move. Read more

COVID-19 vaccination to be ready as soon as scientists give nod

COVID-19 vaccination to be ready as soon as scientists give nod
Friday, December 4, 2020
Prime Minister Narendra Modi on Friday while virtually addressing an all-party meeting on COVID-19 situation, said Coronavirus vaccines are expected to be ready in the next few weeks and the government will start vaccinating Indians as soon as the scientists give a nod and declared that healthcare workers involved in treating coronavirus patients, frontline workers and old people suffering from serious conditions would be inoculated on priority. Modi added that the Indian scientists are confident with the work in vaccine development against the novel Coronavirus. Nearly eight vaccines are at different stages of trial like Bharat Biotech-ICMR, Oxford-AstraZeneca, Zydus Cadila, Biological E and Dr Reddy’s with their manufacturing assured in India, Modi said. Three vaccines from India are also at different stages of the trial, he said. Modi also asserted that vaccines will also be the cheapest, hence, other countries are closely monitoring it. Read more

UK approves Pfizer-BioNTech COVID-19 vaccine,First COVID-19 vaccine in the world

UK approves Pfizer-BioNTech COVID-19 vaccine,First COVID-19 vaccine in the world
Wednesday, December 2, 2020
Shares of Pfizer gained 5 per cent to Rs 5384.95 after the U.K.country approved a Covid-19 vaccine, with its regulator clearing Pfizer Inc. and BioNTech SE’s shot ahead of decisions in the U.S. and European Union. The UK became the first country to approve Covid-19 Vaccine and will be available in Britain from next week, according to a government statement. The British regulator, the Medicines and Healthcare products Regulatory Agency (MHRA), says the jab, which claims to offer up to 95 per cent protection against COVID-19 illness, is safe for rollout. The UK is expected to receive a total of 40 million doses by the end of 2021, enough to vaccinate up to a third of the population, with the majority of doses anticipated in the first half of next year. The vaccine will be manufactured in BioNTech’s German sites, as well as Pfizer’s manufacturing site in Belgium. Read more

Pfizer surges 19% as parent's Covid vaccine trial success

Pfizer surges 19% as parent's Covid vaccine trial success
Tuesday, November 10, 2020
Shares of Pfizer gained 20 per cent on Tuesday and touched a record high of Rs.5900 a piece after its parent company Pfizer Inc said that its Covid-19 vaccine was more than 90 per cent effective, based on initial trial results. Pfizer and German partner BioNTech said they had found no serious safety concerns yet and expected to seek US emergency use authorization this month, raising the chance of a regulatory decision as soon as December, an announcement that triggered hopes worldwide. The trial will continue through a final analysis at 164 confirmed cases. The trial has enrolled 43,538 participants to date, and of these, 38,955 had received a second dose as of November 8. If permission granted, the two companies estimate they can roll out up to 50 million doses this year, enough to protect 25 million people, and then produce up to 1.3 billion doses in 2021. This announcement has cheered the world market on hopes of Covid vaccine. Read more

India-made COVID-19 vaccine could be launched by February?

India-made COVID-19 vaccine could be launched by February?
Thursday, November 5, 2020
An Indian government-backed COVID-19 vaccine could be launched as early as February as last-stage trials begin this month and studies have so far shown it is safe and effective, according to sources. Bharat Biotech, a private company that is developing COVAXIN with the government-run Indian Council of Medical Research (ICMR), had earlier hoped to launch it only in the second quarter of next year. "The vaccine has shown good efficacy," senior ICMR scientist Rajni Kant, who is also a member of its COVID-19 task-force, said at the research body's New Delhi headquarters on 5th November 2020.. "It is expected that by the beginning of next year, February or March, something would be available." A launch in February would make COVAXIN the first India-made vaccine to be rolled out. Read more

GOI sets aside $7 bn for COVID-19 vaccination

GOI sets aside $7 bn for COVID-19 vaccination
Thursday, October 22, 2020
Govt of India has set aside about 500 billion rupees ($7 billion) to vaccinate the world’s most populous nation after China against the coronavirus, according to some sources. The govt estimates an all-in cost of about $6-$7 per person in the nation of 1.3 billion, it is said. The money provisioned so far is for the current financial year ending March 31 and there will be no shortage of further funds for this purpose, they added. While a government-backed panel predicts that India is past the peak of infections and may contain the spread by February, the nation has taken a massive blow to economic growth and Modi has been reopening the economy. Starting this weekend, Indians will be celebrating several festivals that could lead to a sharp jump in daily virus infections. Pm Narendra Modi on Tuesday said his government will ensure all Indians have access to a Covid-19 vaccine as soon it is ready.

Serum Institute to make 200 mn Covid vaccines in 2021

Serum Institute to make 200 mn Covid vaccines in 2021
Tuesday, September 29, 2020
India registered 70,589 new Covid-19 cases, taking the total caseload to 6,145,291. The death toll now stands at 96,351. The Union Health Ministry has launched a web portal that will provide all important information on coronavirus, vaccine development, ongoing clinical trials, and progress made in this area locally and globally. The "vaccine web portal" and the ''National Clinical Registry for Covid-19'' have been developed by ICMR. The Ministry of Health and Family Welfare yesterday (28th Sept.2020) said that the first vaccine in India will most likely be available by early 2021. The WHO and its leading partners have agreed to roll out 120 million rapid-diagnostic tests for the coronavirus to help lower- and middle-income countries make up ground in a testing gap with richer countries - even if it's not fully funded yet. Read more

India needs huge investment to give all Indians Covid vaccine

India needs huge investment to give all Indians Covid vaccine
Tuesday, September 22, 2020
A vaccine for the coronavirus will likely be ready by early 2021 for India. Rolling it out safely across India’s large population will be the country’s biggest challenge in fighting its surging epidemic, experts say. “By year-end, we will have data that will tell us which vaccines are working and which ones are not going to do so well,” said Kang, who until July was heading the Indian government committee looking into prospective indigenous vaccine candidates. “If we get good results by year-end then we are looking at vaccines being potentially available in tiny numbers in the first half of 2021 and larger numbers in the latter part.” Read more

Cold chain logistics required for Covid-19 vaccine distribution

Cold chain logistics required for Covid-19 vaccine distribution
Friday, September 11, 2020
As the vaccine for Covid-19 is getting ready putting together an efficient cold chain to deliver it to nook and corner of the country. From having community cold-chain networks to combining agricultural and medical cold chains wherever possible — many such ideas are abroad. A few hundred vaccine candidates are being developed globally, using different technology platforms. India, with 1.3 billion people, is the world’s largest vaccine maker. Some frontrunners are in advanced stages of trial and can hit the market early next year. Read more

Covaxin is safe:Result of the Ist phase of the vaccin developed by Bharat Biotech-ICM

Covaxin is safe:Result of the Ist phase of the vaccin developed by Bharat Biotech-ICM
Friday, August 14, 2020
It is reported that preliminary results of phase 1 clinical trials of the Bharat Biotech-ICMR developed Covid-19 vaccine, Covaxin, suggest that the vaccine is safe. The vaccine is being tested on 375 volunteers who have enrolled at 12 sites in India. Two doses of the vaccine are being administered to each volunteer. “As of now, we know that it is safe. The second step is to know how effective the vaccine is for which we have started collecting the samples,” said Savita Verma, principal investigator, who is leading the trial at PGI, Rohtak. Read more

Pune's Serum Institute of India is placing its bets on the Oxford-AstraZeneca vaccine candidate AZD1222

Pune's Serum Institute of India is placing its bets on the Oxford-AstraZeneca vaccine candidate AZD1222
Wednesday, July 22, 2020
Oxford-AstraZeneca vaccine candidate AZD1222 being produced at Pune’s Serum Institute of India is most likely immunogenic and effective for mass use.CEO Adar Poonawalla stated that he would start manufacturing at personal risk. The company is investing $200 million in the vaccine facility and that he wants to keep the price at below Rs 1,000. I’m confident that the Oxford-AstraZeneca vaccine candidate will be immunogenic and effective for mass use. Once the trials are successful in India and the UK, we are certain that COVISHIELD will be one of the first vaccines to be introduced" Sri Poonawalla said. Read more

Panacea Biotec surges 20% on COVID-19 vaccine collaboration with US-based Refana Inc

Panacea Biotec surges 20% on COVID-19 vaccine collaboration with US-based Refana Inc
Wednesday, June 10, 2020
Shares of Panacea Biotec gained 20 per cent upper circuit at Rs 203 on the BSE on Wednesday after the company said it would partner with US-based Refana Inc to make a potential vaccine for COVID-19. Under the partnership, Panacea Biotec will be responsible for product development and commercial manufacturing of an inactivated virus-based vaccine, the Indian firm said in an exchange filing. The collaboration aims to make more than 500 million doses of the vaccine candidate, with over 40 million doses expected to be available early next year. Both Panacea and Refana will undertake sales and distribution of the vaccine in their respective territories, it said. With today’s rally in the stock, the market capitalisation of Panacea Biotec stands at Rs 1,242.17 crore, according to BSE. The stock is trading close to its 52-week high level of Rs 210.60, touched on April 28, 2020. Around 860,000 shares changed hands and there were pending buy orders for 210,000 shares on the NSE and BSE.

Covid-19 vaccine development moving positively, says Biotech CEO

Covid-19 vaccine development moving positively, says Biotech CEO
Tuesday, June 2, 2020
The development of a vaccine for Covid-19 is moving in a positive direction and the next one month will be very crucial, said Krishna Mohan Ella, the chief executive officer at Bharat Biotech. The company has formed a collaborative framework with the University of Wisconsin, Indian Council of Medical Research (ICMR), and the Thomas Jefferson University of Philadelphia to develop a vaccine for Covid-19. Speaking to IANS, he said, "The vaccine development is moving in a positive direction. The next month is very crucial. I am a scientist and I believe in science."He expressed satisfaction on the progress of the research connected with the vaccine development so far, but insisted that "in science, things can change".

Covid-19 vaccine shows promise in early trials:Moderna Inc.

Covid-19 vaccine shows promise in early trials:Moderna Inc.
Tuesday, May 19, 2020
Moderna Inc's experimental COVID-19 vaccine, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers, according to very early data released by the biotech company on 18th May 2020. Overall, the study showed the vaccine was safe and all study participants produced antibodies against the virus. The news, issued in a release by the U.S. biotechnology company, lifted shares of Moderna by 20%. Moderna launched a $1.34 billion share offering at an offer price of $76 per share late Monday. The company had earlier said it plans to sell $1.25 billion in common stock to raise money for vaccine development and manufacturing.

Flipkart has filed a legal challenge against an antitrust investigation by CCI in India

Flipkart has filed a legal challenge against an antitrust investigation by CCI in India
Friday, February 21, 2020
The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon. Flipkart has filed the case in a court in Bangalore aggrieved by the CCI's probe order. In the case Flipkart argues that CCI ordered its probe without initial evidence that the company's practices were harming competition. The filing comes days ahead of U.S. President Donald Trump's visit to India, and amid U.S. concerns about India's tightening of foreign investment rules for the ecommerce sector.

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