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As the world desperately seeks a vaccine against the Wuhan virus or COVID-19, mega pharmaceutical industries from 31 countries are running a race to be the first to produce and market the vaccine. Of all, the leading ones in the race are Oxford University, Moderna Inc., Cansino Biologics and Pfizer BionTech. So far, more than 160 candidate vaccines are in development. Some 31 of these have entered human clinical trials. China where the virus was reported to have spread to other countries, claimed it has produced small vials of liquid that were put up on show at a Beijing trade fair. These were produced by the Chinese companies Sinovac Biotech and Sinopharm. Neither has hit the market yet but the makers hope they will be approved after all-important phase 3 trials as early as year-end. Russia had also announced it would soon be producing a vaccine known as Gam-COVID-Vac, designed by the Gamaleya Center of Epidemiology and Microbiology, and is the world’s first anti-COVID vaccine to gain regulatory approval. The global market for vaccine is estimated at around $75 billion or Rs. 55,28,28,75,00,000.Russia aims to take up 25% of global the COVID-19 vaccine market with its new vaccine within the next several years. Still, despite the optimism of the Russian government regarding with the new vaccine, some experts remain skeptical about its prospects in the global market. A trade association of international pharmaceutical companies operating in Russia have asked the Russian government to postpone registration of the new vaccine until the successful completion of Phase III trials. However, high-profile COVID-19 vaccines developed in Russia and China share a potential shortcoming. According to medical experts, these vaccine are based on a common cold virus that many people have been exposed to, potentially limiting their effectiveness. While all of these vaccines have shown promising and "safe" immunization results in early clinical trials, the one big worry experts have is regarding the pricing and equitable distribution. Before a vaccine is approved for mass deployment, there are many questions regarding its distribution, such as availability, economically prices, profit margin and mass production. At stake are the lives of billions of people across the globe and business estimated at. A vaccine may be priced at anywhere between Rs.3000 to Rs.10,000 but depending on who makes it first and how long that market dominance lasts. The pricing will also differ from vaccine to vaccine. The higher its efficacy, the more likely it is to cost more. These factors also need to be looked at before we pin our hopes on just one vaccine candidate. The race for the vaccine has led to both China and Russia joining hands to challenge American pharmaceutical companies.These two are to conduct a joint trial of volunteers to be vaccinated by September end and results of which will be released early next year. In this regard, India is also doing its own ground work to market the vaccine domestically, for a market potential estimated at $6 billion or Rs. 44239,80,00,000 in terms of sales for the next three years. The rush for a successful vaccine is also a rush to grab a major share of the market and the early bird will get the worm by early next year. Before this, vaccines will have to undergo rigorous trials to ensure they don’t have any side effects.<\/p>\n","protected":false},"excerpt":{"rendered":"
Vaccine gold rush<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[685],"tags":[],"class_list":["post-209231","post","type-post","status-publish","format-standard","hentry","category-editorial"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/209231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=209231"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/209231\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=209231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=209231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=209231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}