A day after Serum Institute of India reduced the price of Covishield vaccine, Indian vaccine manufacturer has now lessen the price of its vaccine Covaxin for the state government at a price of Rs. 400 each dose.

Earlier, the vaccine cost for the governments was Rs. 600 each dose, while, for private hospitals it has been fixed at Rs. 1200 each dose.

Taking such a step, Bharat Biotech issued a statement, "Recognizing the enormous challenges to the public health care system we have made Covaxin available to State Government at a price of Rs.400/dose".

"We wish to be transparent in our approach to pricing which was determined by internally funded product development, several operationally-intensive BSL-3 manufacturing facilities (the first of its kind in our country) and clinical trials," the release added.

Meanwhile, Serum Institute of India (SII) CEO Adar Poonawalla on Wednesday said that the firm has decided to reduce the price of Covishield for states by 25 percent to Rs 300. Covishield was previously priced at Rs 400 per dose for state governments, while for private hospitals at Rs 600.