The Centre has placed an advance order with Hyderabad-based vaccine manufacturer, Biological-E, to reserve 300 million Covid-19 vaccine doses, the health ministry announced on Thursday.
The government said that it would be making an advance payment of ₹1500 crore for the vaccine stock that will be produced between August and December this year.
The RBD protein sub-unit vaccine, which is currently undergoing Phase III clinical trials, is likely to be available in the next few months.
The vaccine candidate has been supported by Government of India since the pre-clinical stage. The department of biotechnology had provided a financial assistance of over ₹100 crore to the company.