Indian Government Will Not Purchase the Pfizer Inc. (NYSE: PFE) and Moderna Inc (NASDAQ: MRNA) Vaccines

Pfizer Inc. (NYSE: PFE) and Moderna Inc (NASDAQ: MRNA) are back in the news. According to Government sources, it is confirmed that the Government of India will not go ahead and buy the Pfizer Inc. and Moderna Inc vaccines. Thanks to the spike in the availability of cost-effective and easy-to-store vaccines. 

The Government of India has turned down a request from the U.S. regarding the protection of side- effects from vaccines 

Against the backdrop of the developments, it is learned that the Government of India has turned down the request to meet its U.S. counterpart. Companies’ in the U.S. have expressed interest in obtaining legal protection from the side- effects that could occur upon the jabs being administered. Two of the sources familiar with the developments shared with news agency Reuters that the vaccine shots are currently manufactured either in Europe or the U.S. it is learned that no company has received the protection of this kind in India. 

Sources comment on the recent developments

One of the sources recalled that in April, coronavirus infections in India saw a spike. Back then, there was a massive demand for vaccines and an acute shortage of shots. The cost of the jabs sky-rocketed then. The source questioned why should the Government of India give in to its obligations now. The second source added that the Indian Government would not purchase the Pfizer Inc. and Moderna Inc vaccines. The source added that the companies could go ahead and initiate private tie-ups after obtaining the required clearances and permissions.  

Pfizer Inc. determined to make the vaccine available in India

Contradictory to the developments unfolding in the country, a spokesperson on behalf of Pfizer Inc. from India confirmed that the group is holding several rounds of negotiations with the Indian authorities as the company is determined to make its vaccine available in India. However, the group reminded that it would supply its vaccine only to supra-national and the union government during the pandemic. 

Meanwhile, through its Indian partner Cipla, Moderna Inc has received the emergency-use authorization of its vaccine in India. Both the Moderna Inc and Pfizer Inc. vaccines require extreme cold storage facilities and infrastructure India lacks. Also, in terms of cost, both the vaccines cost higher than India’s Covishield. The union health minister announced that the country is set to restart its vaccine exports from the October quarter.