Layoffs are turning out to be the flavour of the week, with European auto makers Peugeot, Citroen and Rolls Royce, British pharma giant AstraZeneca and American defence equipment manufacturer Boeing all set to slash nearly 7,000 jobs.
The Centre on Wednesday placed a second purchase order with the Serum Institute of India for the supply of one crore doses of Oxford-AstraZeneca COVID-19 vaccine 'Covishield', each costing Rs 210, including GST, sources said.
PM Modi said that it was an honour to be a trusted partner during the pandemic adding that the two countries will continue to strengthen cooperation on healthcare.
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As India's largest drugmaker unveiled a deal worth up to $4.6bn to sell control to Daiichi Sankyo of Japan, the disbelief at the press conference was palpable.
India 's airline sector is expected to report losses of $1bn for the year ended last month - double that of a year earlier, according to the head of one of the country's biggest airlines. Naresh Goyal, founder and chairman of Jet Airways, said he expected high costs and fierce price wars to prompt more consolidation in the industry and Jet was ready to seize the opportunity to acquire rivals in India and overseas.
The hospital, located in Parel area, on Tuesday got the approval of the Maharashtra ethics committee for conducting the vaccine trials.
'We're clear Covishield is not a problem. The UK is open to travel and we're already seeing a lot of people going from India to the UK, be it tourists, business people or students,' Alex Ellis, British high commissioner to India, said.
Waltz after being elected as the Co-Chair of India Caucus in January last year had said that India is the world's largest democracy and an important strategic partner for the United States.
There are a number of trial sites across both Mumbai and Pune that we have shortlisted, as these cities have many hotspots, which will help us understand the efficacy of the vaccine, the company's chief executive Adar Poonawalla said.
The government plans to immunise 30 million people in the first phase, starting February, and by July, the target is to vaccinate 250 million people, reports Sohini Das.
'Supplies should start moving to the Serum Institute without any impediments.'
CEO of Serum Institute of India hints that he may start producing in Britain and speaks about threatening calls from the rich and powerful
The vaccine, ChAdOx1 nCoV-19 and also known as AZD1222, is considered among the most advanced in the worldwide hunt for a viable vaccine against the novel coronavirus.
Serum Institute is investing $200 million to create capacities for the COVID-19 vaccine. Sohini Das profiles its 39-year-old CEO.
Both manufacturers have sought funds in excess of Rs 150 crore under the department of biotechnology's Mission Covid Suraksha scheme. Announced last November, the scheme has an outlay of Rs 900 crore to help develop Covid vaccines, from the clinical development stage to setting up production sites.
'I don't think anybody would want to be in my position today where every head of State has to be explained that I am prioritising my country because there is a surge in cases.'
SII is the first indigenous company that has sought emergency approval for the vaccine developed along with global pharma giant AstraZeneca and Oxford University.
'A good 30 per cent of people will still get infected after getting the Covishield vaccine.'
For vaccination, online registration is mandatory. Thereafter, eligible beneficiaries will be informed on their registered mobile number about the nearest vaccination facility, and the date and time of vaccination.
A Chennai-based man has demanded a compensation of Rs 5 crore from the SII after his health worsened allegedly after volunteering for the clinical trials for a COVID-19 vaccine.
HCL Technologies Ltd, India's No. 4 IT services exporter, beat expectations with a 41.6 percent rise in quarterly profit, after order wins boosted earnings.
The company has not yet revealed details about the unexplained illness but has stopped trials while doctors find out if the illness was caused due to the vaccine or was a coincidence.
The remarks come amid suspected cases of COVID-19 reinfection being reported from abroad and from Indian states like Telangana, Karnataka, Gujarat, Punjab and Maharashtra.
This means fully vaccinated Indian passengers will no longer be subjected to a compulsory 10-day hotel quarantine on their arrival in Britain.
'We are in close touch with Indian officials at all levels. We are also closely coordinating with our allies, friends, and Quad partners about how we can collectively support India in its hour of need,' a senior Biden administration official told reporters
A technical advisory group of the UN health agency which met on Tuesday has sought "additional clarifications" from Bharat Biotech for Covaxin to conduct a final "risk-benefit assessment" for Emergency Use Listing of the vaccine.
The Serum Institute of India, the largest vaccine maker in the world, has been chosen by Oxford and its partner AstraZeneca to manufacture the vaccine once it is ready. Trials results for the first two phases were published earlier this month.
While the Indian government has been procuring Covid-19 vaccines at low prices so far, manufacturers have to declare the prices of vaccines they would supply to the open market (industries, private hospitals, etc) and state governments before May 1. Sohini Das reports.
The Joe Biden administration has come under intense pressure from various quarters, including the powerful US Chambers of Commerce, lawmakers and eminent Indian-Americans, to ship AstraZeneca and other Covid-19 vaccines along with several life-saving medical supplies to India, which is witnessing a deadly surge in coronavirus cases.
The Drugs Control General of India has permitted emergency use of Covid vaccine Sputnik V with certain conditions, clearing the way for a third vaccine in addition to Covishield and Covaxin. Besides, the government on Tuesday also fast-tracked emergency approval for other jabs. Here is what the vaccines are all about:
SBI was the top loser in the Sensex pack, shedding over 4 per cent, followed by Bajaj Finserv, Axis Bank, ONGC, ITC, ICICI Bank, Bajaj Finance, Kotak Bank and HDFC Bank.
Poonawalla said booster vaccines have no demand as there is general lethargy among people and also because they are fed up with the pandemic.
After Brihanmumbai Municipal Corporation Commissioner Iqbal Singh Chahal claimed that Mumbai has received a bid from Pfizer in response to its COVID-19 vaccine procurement tender, Pfizer issued a statement clarifying that it has made no such bid.
FDA allows Teva to launch Nexium generic; Cipla, which supplies formulation, to gain
On Tuesday, Rao said there was a possibility of the PM's visit to Pune, and if that happens, it would be aimed at reviewing the status of the vaccine candidate for coronavirus infection and to know about its launch, production and distribution mechanisms.
India is currently using two vaccines for COVID-19 -- one developed by Oxford University and AstraZeneca and the other developed by Bharat Biotech in collaboration with the Indian Council of Medical Research-National Institute of Virology. Both the vaccines are being manufactured within the country by domestic firms.
'It is not just the US and European opportunity, but it is a huge global opportunity.'
West Indies batsman Chris Gayle thanked Prime Minister Narendra Modi for helping Jamaica by providing COVID-19 vaccines under the Vaccine Maitri initiative.
