Serum Institute of India (SII) CEO Adar Poonawalla has lauded the Modi government's policy change in vaccination, bringing all above 18 under the mass drive and extending financial support to the vaccine manufacturers. SII which is manufacturing Covishied, developed by Oxford University and Swedish drug giant AstraZeneca, in India has been given Rs 3,000 crore as 100 per cent advance till July, reported NDTV citing senior sources in the finance ministry.  SII India's largest vaccine maker and has been contracted by several countries for its vaccine, a commitment which it has been recently unable to fulfil. 

A similar advance of Rs 1,500 crore has been given to Hyderabad-based Bharat Biotech, the producer of indigenous Covaxin, the report added.

"This will ensure that the two companies get necessary funding to continue and scale up production,"  the NDTV report added.

Earlier, Adar Poonawalla had appealed to the government for funds to scale up manufacturing amid high demand of the vaccine within and outside India.

Both Bharat Biotech and SII were facing shortage of funds "to scale up production, purchase raw materials, pay staff, and make and distribute enough doses of the vaccines", stated the report.

Poonawall, on Tuesday, tweeted in appreciation of the government's move. The states can now buy coronavirus vaccine doses directly from manufacturers in the "liberalised and accelerated Phase 3 strategy of COVID-19 vaccination", IBNS said.