Serum Institute of India CEO Adar Poonawalla said he is hopeful that Covovax will be launched in October, depending on DCGI approvals, for adults and for children by the first quarter of 2022, as reported The Economic Times.

"The government is helping us and we are facing no financial crunch. We are thankful to Prime Minister Narendra Modi for all the cooperation and support," Poonawala said.

Poonawala said that it will be a two-dose vaccine and the price will be decided at the time of launch.

On production capacity of the Covishield vaccine, which is being manufactured and supplied by Serum in India under a licensing agreement with Oxford and AstraZeneca, he said the present capacity is 130 million doses per month.