QQQ   414.65 (-2.07%)
AAPL   165.00 (-1.22%)
MSFT   399.12 (-1.27%)
META   481.07 (-4.13%)
GOOGL   154.09 (-1.23%)
AMZN   174.63 (-2.56%)
TSLA   147.05 (-1.92%)
NVDA   762.00 (-10.00%)
AMD   146.64 (-5.44%)
NIO   3.80 (-5.00%)
BABA   69.07 (+0.28%)
T   16.51 (+1.10%)
F   12.14 (+0.66%)
MU   106.77 (-4.61%)
GE   148.06 (-3.19%)
CGC   7.93 (+1.28%)
DIS   112.61 (+0.16%)
AMC   3.16 (+8.22%)
PFE   26.00 (+2.40%)
PYPL   62.31 (+0.34%)
XOM   119.88 (+1.15%)
QQQ   414.65 (-2.07%)
AAPL   165.00 (-1.22%)
MSFT   399.12 (-1.27%)
META   481.07 (-4.13%)
GOOGL   154.09 (-1.23%)
AMZN   174.63 (-2.56%)
TSLA   147.05 (-1.92%)
NVDA   762.00 (-10.00%)
AMD   146.64 (-5.44%)
NIO   3.80 (-5.00%)
BABA   69.07 (+0.28%)
T   16.51 (+1.10%)
F   12.14 (+0.66%)
MU   106.77 (-4.61%)
GE   148.06 (-3.19%)
CGC   7.93 (+1.28%)
DIS   112.61 (+0.16%)
AMC   3.16 (+8.22%)
PFE   26.00 (+2.40%)
PYPL   62.31 (+0.34%)
XOM   119.88 (+1.15%)
QQQ   414.65 (-2.07%)
AAPL   165.00 (-1.22%)
MSFT   399.12 (-1.27%)
META   481.07 (-4.13%)
GOOGL   154.09 (-1.23%)
AMZN   174.63 (-2.56%)
TSLA   147.05 (-1.92%)
NVDA   762.00 (-10.00%)
AMD   146.64 (-5.44%)
NIO   3.80 (-5.00%)
BABA   69.07 (+0.28%)
T   16.51 (+1.10%)
F   12.14 (+0.66%)
MU   106.77 (-4.61%)
GE   148.06 (-3.19%)
CGC   7.93 (+1.28%)
DIS   112.61 (+0.16%)
AMC   3.16 (+8.22%)
PFE   26.00 (+2.40%)
PYPL   62.31 (+0.34%)
XOM   119.88 (+1.15%)
QQQ   414.65 (-2.07%)
AAPL   165.00 (-1.22%)
MSFT   399.12 (-1.27%)
META   481.07 (-4.13%)
GOOGL   154.09 (-1.23%)
AMZN   174.63 (-2.56%)
TSLA   147.05 (-1.92%)
NVDA   762.00 (-10.00%)
AMD   146.64 (-5.44%)
NIO   3.80 (-5.00%)
BABA   69.07 (+0.28%)
T   16.51 (+1.10%)
F   12.14 (+0.66%)
MU   106.77 (-4.61%)
GE   148.06 (-3.19%)
CGC   7.93 (+1.28%)
DIS   112.61 (+0.16%)
AMC   3.16 (+8.22%)
PFE   26.00 (+2.40%)
PYPL   62.31 (+0.34%)
XOM   119.88 (+1.15%)

India to approve coronavirus shots green-lit by WHO, others

→ The #1 Opportunity of the decade? (From Behind the Markets) (Ad)

A note informing about the COVID-19 vaccine is seen pasted on a wall of a vaccination centre in Mumbai, India, Thursday, April 8, 2021. India's western Maharashtra state, home to financial capital Mumbai, is the worst-hit and has nearly half of the country new infections in the past week. And now some vaccination centers are turning away people due to a shortage. The state said Wednesday that stocks would run out in three days, promoting an angry denial from India's health minister Harsh Vardhan, who blamed the state for “singularly bogging down the entire country's efforts to fight the virus.” (AP Photo/Rafiq Maqbool)

NEW DELHI (AP) — India said Tuesday that it will approve the use of all coronavirus vaccines that have been given an emergency nod by the World Health Organization or regulators in the United States, Europe, Britain or Japan.

India’s Health Ministry said the decision was aimed at hastening the use of shots made in other countries and expanding the “basket of vaccines” available for domestic use. The country of almost 1.4 billion people is seeing a crippling surge of infections that is threatening to overwhelm hospitals in hard-hit cities.

The only way out of the crisis, experts say, is to vaccinate more people.

But this has global implications since India is a major vaccine producer and India's domestic needs have delayed the delivery of shots to the U.N.-backed COVAX initiative that is aimed at distributing vaccines equitably.

India had earlier given the nod to the AstraZeneca vaccine made by Serum Institute of India and another one made by the Indian company Bharat Biotech.

Now, vaccines that have received emergency use authorization by regulators in the U.S., Europe, Britain, Japan or the World Health Organization can be used in India. The Health Ministry also said Tuesday that the Russian Sputnik V vaccine had been green-lit for emergency use.

The Health Ministry said that safety will be monitored in the first 100 people who receive these shots, before its use is expanded to include others.

Dr. Shahid Jameel, who studies viruses at India’s Ashoka University, said that while the move was unlikely to help the country deal with the surge it was currently experiencing, it would help in vaccine availability going forward, consequently freeing up vaccines that could then be exported.

He said that this would pave the path for India to use vaccines made by companies with a manufacturing partner in India. For instance, vaccine maker Biological E Ltd is contracted to make the Johnson & Johnson coronavirus vaccine.


Jameel added that this would potentially open up the market for vaccines that require ultra-cold storage facilities to be sold in cities where such facilities are available. Vaccine prices in India are currently capped at 250 rupees or $3.30. This will also free up the government to subsidize the vaccines for the poor, while those can afford to buy more expensive vaccines can do so.

Russia has agreements with five Indian pharmaceutical companies to make more than 850 million doses of Sputnik V vaccines in India for the world. It has also inked a deal with Dr Reddy’s Laboratories to conduct late trials and distribute up to 250 million doses in India.

But with four of Russia’s five deals inked in March and April, the doses are likely to be supplied later in the year. Moreover, Russia’s first manufacturing deal with India was with Hetero Biopharma for a 100 million doses — but it is unclear as to whether it has started making doses. Hetero Biopharma didn’t respond to queries by The Associated Press.

___

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content.

→ The #1 Opportunity of the decade? (From Behind the Markets) (Ad)

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

Beginner's Guide to Pot Stock Investing Cover

Click the link below and we'll send you MarketBeat's guide to pot stock investing and which pot companies show the most promise.

Get This Free Report

Featured Articles and Offers

Search Headlines: