Adar Poonawalla-led Serum Institute of India (SII) on Saturday defended the price of its Covishield coronavirus vaccine at Rs 600 per dose for private hospitals from May 1, when vaccination is thrown open to all adults in the country.

The price of the vaccine has been fixed at Rs 400 per dose for state governments and Rs 150 a shot for the Central government.

Responding to a report in the Indian Express which said that Covishield at Rs 600 per dose for private hospitals was its highest price in the world, the company said the newspaper was making "inaccurate comparisons between the global prices of the vaccine with India. It claimed that Covishield remained "the most affordable COVID-19 vaccine available in the market today".

"Only a limited portion of SII's volume will be sold to private hospitals at Rs 600 per dose. The price of the vaccine is still lower than a lot of other medical treatment and essentials required to treat COVID-19 and other life-threatening diseases," SII said in its statement.

"The initial prices (of Covishield) were kept very low globally as it was based on advance funding given by those countries for at-risk vaccine manufacturing. The initial supply price for all government immunisation programmes, including India, has been the lowest," the company added.

The company also said that while the current situation is "dire; the virus is constantly mutating while the public remains at risk… we have to ensure sustainability as we must be able to invest in scaling up and expanding our capacity to fight the pandemic and save lives.

Those getting their shots at state-run hospitals could end up paying Rs 400 per dose unless the states decide to bear the cost of procuring fresh doses directly from the makers. Some state governments have already announced that they would be vaccinating people free of cost.

SII had earlier said prices would be cheaper in India than other nations, where it can cost up to Rs 1,500 per shot.

The Centre also issued a clarification reiterating that vaccines procured by it and given to states would continue to be free, and those provided to private hospitals would be available at the subsidised rate of ₹ 250 per dose.

Under the new rules private hospitals can buy directly from the manufacturers who are allowed to sell up to 50 per cent of their output to states and private hospitals.