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<ul><li>Coronavirus vaccines by the <keyword id="150557" type="ORGANIZATION" weightage="20" keywordseo="University-of-Oxford">University of Oxford</keyword> and China are in the most advanced clinical phase and likely the best choice for India according to <keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword> founder <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword>. </li><li>The US <keyword id="8624004" type="UNKNOWN" weightage="20" keywordseo="coronavirus-vaccine">coronavirus vaccine</keyword> candidates may be more talked about but they will likely be much more expensive. </li><li>“We’re much more comfortable with a jab and a low-cost vaccine, which is what the Oxford and Chinese vaccines are all about,” explained Shaw. </li></ul>Biotechnology companies around the world are going head-to-head to create the <keyword id="9171829" type="UNKNOWN" weightage="20" keywordseo="first-coronavirus-vaccine">first coronavirus vaccine</keyword> as the ongoing pandemic continues to wreak havoc on normal life. Some have a headstart over others. “I think the Oxford vaccine and Chinese vaccine are certainly in the more advanced clinical phase as is the German vaccine. The two US vaccines are, of course, much talked about but we really don’t know whether these RNA vaccines will really work like they’re considered to,” Biocon founder Kiran Mazumdar Shaw told Business Insider as a part of its special series ‘Hangout with BI’. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> From passive vaccines with RNA and DNA-based approaches to active vaccines, each has its pros and cons. “If you talk about mRNA vaccine, yes, there’s some advantage there but the issue with side-effects is also different,” explained <keyword id="9193157" type="UNKNOWN" weightage="20" keywordseo="ramanan-laxinarayan">Ramanan Laxinarayan</keyword>, the Director of Centre of Disease Dynamics, Economics and Policy (CDDEP). According to him, the risk of vector-based vaccines in India is that there’s a strong possibility that people are already immune to certain adenoviruses because they’ve already been exposed to them. This results in the possibility that the vaccine won’t take. “Every idea out there, every platform has pluses and minuses,” he said. Ordinarily it takes at least five years to develop a viable vaccine. But in these unprecedented times, it’s possible that a solution could present itself in a matter of months. The front runners for a coronavirus vaccine The two US coronavirus vaccine candidates being developed by Pfizer — in collaboration with Fosum and Germany's BioNTech — and Moderna, are based on the genetic material of DNA protein 'spike'. “The jury is out there to see if it’s really going to work and even if it does work, I don’t think that’s a vaccine that India will really benefit from because these are very expensive vaccines,” said Shaw. The ones in the US may not be the best for Indian patients The US coronavirus vaccine candidates need to be stored at -80 degrees Celsius and have to be delivered intravenously. “We’re much more comfortable with a jab and a low-cost vaccine, which is what the Oxford and Chinese vaccines are all about. These are more typical and conventional vaccines,” she explained. China has the lead closely followed by the Indian project underway at Oxford China is currently leading the charge to develop a coronavirus vaccine. <a href="https://www.who.int/who-documents-detail/draft-landscape-of-covid-19-candidate-vaccines">Cansino Biological</a> and the Beijing Institute of Biotechnology are using an Ebola-based candidate to develop a adenovirus type 5 vector coronavirus vaccine, currently in Phase-1 and Phase-2 of clinical trials. Another Chinese candidate vaccine is being developed by the Beijing Institute of Biological Products in partnership with <keyword id="522337" type="ORGANIZATION" weightage="20" keywordseo="Sinopharm">Sinopharm</keyword>, which is also conducting Phase 1 and Phase 2 trials simultaneously. Coming in second is the University of Oxford, which is using a non-replicating viral vector approach based on MERS, influenza, TB, chikungunya, Zika and others to develop its coronavirus vaccine. The Serum Institute of India (SII) — the world’s largest vaccine maker — is already manufacturing Oxford’s vaccine even though it doesn’t have approval yet. It's taking the risk of producing up to 400 million doses by the end of the year, if all goes well. Is India working on a coronavirus vaccine? Indian companies, including Biocon, have no intention of being left behind. They are also working on producing a coronavirus vaccine but it's going to take <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">at least nine months</a> before they’re able to get to a clinic, according to Shaw. “The government of India is asking large companies to help the small vaccine biotech companies expedite and advance their programs,” she said. See also: <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months</a> <a href="https://www.businessinsider.in/stock-market/news/moderna-skyrockets-16-to-record-high-after-fda-clears-coronavirus-vaccine-for-phase-2-study/articleshow/75603580.cms">Moderna skyrockets 16% to record high after FDA clears coronavirus vaccine for phase 2 study</a>

There are a lot of coronavirus vaccines in the works⁠— but these are the two that Indians should watch out for

<ul><li>“Even after India approves the coronavirus vaccine, it might not be possible to produce more than 10-20 million doses in the first year.”</li><li>The comments came from the Chairperson of Biocon in an exclusive chat with Business Insider.</li><li>Syngene, a Biocon subsidiary, is involved in accelerating a bunch of initiatives to develop a vaccine for the novel coronavirus that is spreading around the world.</li></ul>There are at least six vaccines under development in India, of the total 100 around the world including from the likes of Sanofi, Altimmune, and Pfizer. “Indian vaccine programmes will take some time before they get into the clinical trials, I think between 6 to 9 months depending on the programme. At least the ones we are working on, I don’t think they can get to clinics before 9 months,” Kiran Mazumdar Shaw, Founder and Executive Chairperson, Biocon told Business Insider. Vaccine development takes time due to the phases involved Shaw further said that vaccine development takes a lot of time because several phases are involved in it. In the first phase, a dose escalation is done to see what the ideal dose for an optimal immune response is. In the second phase, it is tested if the immune response can be done in all age groups. This is important as the first phase is conducted with young healthy volunteers who are at minimal risk. In the third phase, the vaccine is given to a larger population to ensure that the same immune response is given by everyone who is vaccinated. “One of the most important things of this phase is to check how long the immunity stays. This allows to determine how often a person will have to get revaccinated,” Shaw further noted. India will only be able to produce 10-20 million vaccines in 1 year Speaking about the production capacity, Shaw said that even after the vaccine is approved, India may not be able to produce more than 10-20 million doses in the first year, which is a negligible amount considering India’s population. See also: <a href="https://www.businessinsider.in/international/news/sanofi-one-of-the-largest-drug-makers-will-test-experimental-coronavirus-vaccine-on-humans-starting-september/articleshow/75571397.cms">Sanofi, one of the largest drug makers, will test experimental coronavirus vaccine on humans starting September</a> <a href="https://www.businessinsider.in/science/news/2-of-the-worlds-biggest-drugmakers-just-teamed-up-on-a-coronavirus-vaccine-and-theyre-aiming-to-launch-it-next-year/articleshow/75142796.cms">2 of the world's biggest drugmakers just teamed up on a coronavirus vaccine, and they're aiming to launch it next year</a>

Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months

<ul><li>On June 5, Biocon’s Executive <keyword id="9348685" type="PERSON" weightage="20" keywordseo="chairperson-kiran-mazumdar-shaw">Chairperson Kiran Mazumdar Shaw</keyword> was named as <keyword id="9348456" type="UNKNOWN" weightage="20" keywordseo="ey-world-entrepreneur-of-the-year">EY World Entrepreneur of the Year</keyword> 2020. </li><li>With this, she joined Uday Kotak of Kotak Mahindra Bank and Narayana Murthy of Infosys, who were awarded with this honour in 2014 and 2005, respectively. </li><li>She founded the India-based pharma company Biocon with merely two employees and funds worth $500. </li><li>In 2014, Biocon became the first biopharma company to be a publicly-traded entity and the second company to touch the $1 billion mark on the very first day of the listing.</li></ul>In 1978, <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword> founded the India-based pharma company Biocon with merely two employees and funds worth $500. 42 years later, Shaw has been named as <keyword id="9348684" type="UNKNOWN" weightage="20" keywordseo="ey-world-entrepreneur">EY World Entrepreneur</keyword> of the Year 2020. <div type="twitter" handle="EY_EOY" handlename="EY EOY" image="http://pbs.twimg.com/profile_images/877518155282878464/HTnSrpib_normal.jpg" favoritecount="302" retweetcount="123" status="Congratulations to @kiranshaw, Executive Chairperson of India-based @Bioconlimited who is named EY World Entreprene… https://t.co/eYxchprTNh" createdat="1591297093000" id="1268618074879438853"></div> With this, she has joined the likes of Uday Kotak of Kotak Mahindra Bank and Narayana Murthy of Infosys, who were awarded with this honour in 2014 and 2005 respectively. The virtual award ceremony was held on June 5 — and she was chosen from over 46 entrepreneurs from 41 countries. “She has built India's largest biopharmaceutical company on a foundation of compassionate capitalism and putting patient needs before profits,” Chair of the EY World Entrepreneur Of The Year judging panel <a href="https://www.prnewswire.com/in/news-releases/dr-kiran-mazumdar-shaw-from-india-named-ey-world-entrepreneur-of-the-year-tm-2020-883966722.html">said</a>. An aspiring Brewmaster who opened a bio-enzymes company <div type="image" title="eea0f7895182bcc364abaeda35e570da" msid="76208305" hostid="261"></div> Kiran, who graduated from Australia in 1975 wanted to work as a Brewmaster — a person who looks after everything that goes in the process of making a beer. Little did she know, the brewing industry — which is highly male-dominated in India — will not accept a woman in the role. But, that did not stop her. Two years down the line, she started Biocon in a rented house in Bengaluru where they produced the bio enzymes in the garage. A year of struggle and Biocon became the first such company in India that exported enzymes to other countries like the US and Europe. Years later, in 2004, she came up with <keyword id="1829392" type="COMPANY" weightage="20" keywordseo="Biocon-Foundation">Biocon Foundation</keyword> — which aims to provide healthcare and sanitation facilities and diagnosis and treatment of cancer and other non-communicable diseases to weaker sections of the society. Bicon goes public <div type="image" title="06c05f1aefb71a5e6abe2fa9b1bd87fa" msid="76208327" hostid="261"></div> In 2014, Biocon became the first biopharma company to be a publicly-traded entity and the second company to touch the $1 billion mark on the very first day of the listing. Over the years, the bio-enzymes major — which is now one of the prominent biotech giants in Asia — grew multifold to become a <a href="https://www.businessinsider.in/stock-market/news/biocon-share-price-falls-after-earnings-and-mutual-funds-stake-in-the-stock/articleshow/75754048.cms">$5 billion company</a>. Today, Biocon provides healthcare requirements like insulin for diabetes, biosimilars for those fighting cancer, arthritis and other severe diseases. The company reported revenue worth $800 million, as of FY19 and employees more than 11,000 people. In fact, Biocon has created its mark where other pharma giants are struggling and has a presence in over 120 countries. That includes fermentation-based molecules, human insulin, contract research services and more. That may be because of the affordability of the products. In September 2019, Biocon announced the supply of a special kind of insulin to middle income companies on low prices — in fact, less than a third of the current prices. Meanwhile, Shaw has been an angel investor for a lot of startups in the healthcare domain including those in areas like breast cancer screening, chemotherapy and others. In times of the global pandemic While the world is waiting with bated breath for a vaccine to treat coronavirus, Shaw believes that it will take <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">at least nine months for the COVID-19 vaccine to enter clinical trials</a> in India. She also said that there will be multiple waves before the coronavirus curve flattens as community spread remains a key challenge in India. See also: <a href="https://www.businessinsider.in/business/news/mubadala-to-buy-1-85-pc-stake-in-jio-platforms-for-rs-9093-6-cr/articleshow/76205654.cms?upcache=2">Abu Dhabi's Mubadala to buy 1.85% stake in Ambani's Jio Platforms for ₹9093.6 crore</a> <a href="https://www.businessinsider.in/policy/foreign-policy/news/a-former-diplomat-explains-why-four-agreements-will-take-india-and-australia-ties-to-the-next-level/articleshow/76206931.cms">Beyond ‘khichdi’ and ‘samosa’ ⁠— a former diplomat explains why four agreements will take India and Australia ties to the next level</a>

Biocon’s Kiran Mazumdar Shaw, who debuted in the pharma industry with two employees and $500 becomes EY World Entrepreneur of the Year 2020

<ul><li>Biotechnology major <keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword> on Monday said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around 8,000 per vial. </li><li>The company has received approval from the Drugs Controller General of India (DCGI) to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19. </li><li>Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe COVID-19 complications, Biocon had earlier said in a regulatory filing. </li></ul> Biotechnology major Biocon on Monday said it will launch biologic drug Itolizumab for the treatment of moderate to severe COVID-19 patients at a price of around 8,000 per vial. As most patients need 4 vials, the cost of the therapy is around Rs 32,000, Mazumdar-Shaw said. The company has received approval from the Drugs Controller General of India (DCGI) to market Itolizumab injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19. Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe COVID-19 complications, Biocon had earlier said in a regulatory filing. "Until the vaccine comes, we certainly need life saving drugs. I think what we are doing across the world is to see how we can either repurpose drugs or develop new drugs to treat this pandemic," Biocon Executive Chairperson Kiran Mazumdar-Shaw said in a virtual press conference. Even if we get a vaccine by the end of this year or early next year, there is no guarantee that there will not be reinfection, there is no guarantee that it will work the way we expect it to work, so we must be in a state of preparedness, she added. "When COVID happened, we said it actually gives us a very strong case to try it (Itolizumab) for COVID, because we do believe that the unique mechanism of action that it has can help us deal with this storm that we have seen is killing patients,'' Mazumdar-Shaw said. Itolizumab is approved for moderate to severe acute respiratory distress syndrome (ARDS) due to COVID-19, she added. On being asked if the company is ramping up the capacity to manufacture more vials on account of the pandemic, she said: "We have the manufacturing capacity and the supply and distribution network in place, however post this approval we are looking to ramp up production capacity to meet the expected surge in demand. Our aim is to reach a larger number of patients across the country". The drug will be manufactured and formulated as an intravenous injection at the company's bio-manufacturing facility at Biocon Park, Bengaluru. When asked about the steps the company is taking to ensure availability of the drug, Mazumdar-Shaw said: "Alzumab is already in market, we will be supplying to hospitals as per protocol against a medical prescription and patient consent form. Currently, there is a huge demand and Biocon wants to ensure Itolizumab first reaches those patients who need them the most". AKT BAL

Biocon to launch drug for COVID-19 patients at ₹ 8,000 per vial

<ul><li>With the COVID-19 pandemic ravaging several parts of the country, Indians have grown restless and are searching for how to make coronavirus vaccine at home.</li><li>As a result of this, several rumours and fake news are being spread on social media and WhatsApp, misleading people and being potentially harmful.</li><li>Home remedies against coronavirus have also gone viral on social media, misleading people into believing that they are a cure or prevent COVID-19.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>The COVID-19 pandemic is ravaging several parts of India after the nationwide lockdown was partially lifted in June. The fear around the pandemic is increasing and with no proven vaccine readily available, people are now looking to make the COVID-19 vaccine at home. Over the past few days, the searches for how to make COVID-19 vaccine at home have been off the charts. <div type="image" title="how to make coronavirus vaccine at home" msid="76893845" hostid="261"></div> The lack of a cure for COVID-19 has also allowed pranksters and scammers to capitalize on the people’s fears by pedding fake cures and recipes, spreading rumors and fake news on social media, including things like COVID-19 vaccine being ready, or that tuberculosis vaccine can prevent coronavirus, and more. <div type="Article" hostid="261" msid="75591805" title="Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months" mstype="2" mssubtype="0"></div> Why are Indians searching for how to make coronavirus vaccine at home The continuous rise in COVID-19 cases has caused panic amongst people, <a href="https://www.telegraphindia.com/health/dont-panic-its-not-coronavirus/cid/1785580">causing anxiety</a> and a rush to clinics and hospitals. In some cases, these remedies are being touted as a coronavirus vaccine, misleading people into believing that a cure for COVID-19 has been found. The most prominent case is that of Ramdev’s Patanjali, which <a href="https://www.businessinsider.in/business/news/ramdevs-patanjali-claims-to-have-covid-19-medicine-100-recovery-in-7-days/articleshow/76530185.cms">touted that its Coronil and Swasari products were cure for coronavirus</a>, and not just immunity boosters. Soon after, an <a href="https://www.businessinsider.in/india/news/jaipur-fir-lodged-against-ramdev-patanjali-md-over-companys-covid-19-cure/articleshow/76667088.cms">FIR was lodged</a> against the company and it had to <a href="https://www.businessinsider.in/india/news/didnt-promote-covid-19-cure-just-shared-trial-results-patanjali/articleshow/76714300.cms">retract its claims</a>. Home remedies against coronavirus go viral on social media Due to the absence of a coronavirus vaccine and the existing panic amongst people, home remedies against coronavirus have gone viral on social media and WhatsApp. Ayurvedic recipes involving spices like ginger, clove, black pepper, caraway (ajwain) have become popular. However, these home remedies might not be effective against the infection, or even boost immunity, according to a fact-check by IFCN-accredited fact-checker <a href="https://www.altnews.in/home-remedies-by-ayurved-parameshwar-arora-are-they-effective-in-treating-coronavirus/">Alt News</a>. Why does it take so long to develop a vaccine? Vaccine development takes a long time as there are several stages involved in testing and getting the vaccine approved by government regulators. Kiran Mazumdar, founder, Biocon, and Dr. Ramanan Laxminarayan, founder and director of Center for Disease Dynamics, Economics and Policy explain how it takes a long time to make a vaccine and it is not something that you can make at home. <div type="Youtube" id="pjGNff2vjuc" title="Covid Vaccine: Here's why it takes so long to make a vaccine." thumbUrl="https://i.ytimg.com/vi/pjGNff2vjuc/mqdefault.jpg"></div> SEE ALSO: <a href="https://www.businessinsider.in/india/news/hyderabad-nizams-institute-of-medical-science-begins-the-human-clinical-trial-of-covid-19-vaccine/articleshow/76833471.cms">Hyderabad's Nizam's Institute of Medical Science begins the human clinical trial of COVID-19 vaccine</a> <a href="https://www.businessinsider.in/india/news/an-indian-covid-19-vaccine-made-by-bharat-biotech-is-set-to-enter-human-trials/articleshow/76702286.cms">An Indian COVID-19 vaccine made by Bharat Biotech is set to enter human trials</a> <a href="https://www.businessinsider.in/science/health/news/icmr-aims-to-launch-covaxin-covid-19-vaccine-by-august-15/articleshow/76765732.cms">India wants a COVID-19 vaccine by August 15 at the risk of rushing trials and approvals</a>

Here's why Indians are searching on Google for how to make coronavirus vaccines at home

<ul><li>The <keyword id="6354458" type="UNKNOWN" weightage="20" keywordseo="US">US</keyword> Department of Health and Human Services (HHS) has secured more than 500,000 treatment courses of the drug for American hospitals through September.</li><li>This represents 100 per cent of Gilead's projected production for July (94,200 treatment courses), 90 per cent of production in August (174,900 treatment courses), and 90 per cent of production in September (232,800 treatment courses), in addition to an allocation for clinical trials.</li></ul> The Donald Trump administration has secured nearly the entire world stock of antiviral drug <keyword id="8775508" type="UNKNOWN" weightage="20" keywordseo="remdesivir">remdesivir</keyword> from US-based Gilead Sciences for the next three months, leaving hardly any stock of the key Covid-19 drug for the rest of the world. As a result of an agreement with the drug maker announced earlier this week, the US Department of Health and Human Services (HHS) has secured more than 500,000 treatment courses of the drug for American hospitals through September. This represents 100 per cent of Gilead's projected production for July (94,200 treatment courses), 90 per cent of production in August (174,900 treatment courses), and 90 per cent of production in September (232,800 treatment courses), in addition to an allocation for clinical trials. A treatment course of remdesivir is, on average, 6.25 vials, the US Health and Human Services said. The agreement allows hospitals in the US to purchase the drug in amounts allocated by HHS and state health departments. Hospitals in the US will receive the product shipped by AmerisourceBergen and will pay no more than Gilead's Wholesale Acquisition Price (WAC), which amounts to approximately $3,200 per treatment course. "President Trump has struck an amazing deal to ensure Americans have access to the first authorised therapeutic for Covid-19," US Health and Human Services Secretary Alex Azar said in a statement. "To the extent possible, we want to ensure that any American patient who needs remdesivir can get it. The Trump Administration is doing everything in our power to learn more about life-saving therapeutics for COVID-19 and secure access to these options for the American people." Remdesivir is considered a key drug in the fight against Covid-19 as a randomised clinical trial conducted with the drug on 1,063 patients over 60 centres across US, Europe and Asia demonstrated a faster time to clinical recovery in hospitalised patients as compared to placebo. To expand supply of remdesivir, Gilead earlier announced non-exclusive voluntary licensing agreements with generic pharmaceutical manufacturers based in India, Egypt and Pakistan The agreements allow the companies -- Cipla Ltd.; Dr. Reddy's Laboratories Ltd.; Eva Pharma; Ferozsons Laboratories; Hetero Labs Ltd.; Jubilant Lifesciences; Mylan; Syngene, a Biocon company; and Zydus Cadila Healthcare Ltd. -- to manufacture remdesivir for distribution in 127 countries. The countries consist of nearly all low-income and lower-middle income countries, as well as several upper-middle- and high-income countries that face significant obstacles to healthcare access. The regulatory approval status of remdesivir varies by country, and the distribution of remdesivir within each country is subject to local laws and regulations. Under the licensing agreements, the companies have a right to receive a technology transfer of the Gilead manufacturing process for remdesivir to enable them to scale up production more quickly. The licensees also set their own prices for the generic product they produce. The licenses are royalty-free until the World Health Organization declares the end of the Public Health Emergency of International Concern regarding Covid-19, or until a pharmaceutical product other than remdesivir or a vaccine is approved to treat or prevent Covid-19, whichever is earlier.

US secures almost entire world stock of Covid-19 drug remdesivir from Gilead Sciences for the next three months

<ul><li>The Indian Council of Medical Research (<keyword id="6364396" type="UNKNOWN" weightage="20" keywordseo="ICMR">ICMR</keyword>) is working to launch the first made-in-India <keyword id="8624004" type="UNKNOWN" weightage="20" keywordseo="coronavirus-vaccine">coronavirus vaccine</keyword> by August 15 in partnership with Bharat Biotech International Limited (BBIL).</li><li>The indigenous COVID-19 vaccine ‘Covaxin’ is currently under clinical trials. </li><li>The ICMR has selected 12 institutes, including one from Odisha, for the clinical trial of ‘COVAXIN’.</li></ul>While the world still awaits a vaccine for coronavirus and trials are underway, the Indian Council of Medical Research (ICMR) has set a deadline for as soon as August 15 to make its vaccine – Covaxin available for all. Even the Oxford COVID-19 vaccine may hit the Indian market <a href="https://www.businessinsider.in/science/health/news/oxford-covid-19-vaccine-may-hit-the-indian-market-by-the-end-of-the-year-if-successful-says-ceo-of-worlds-largest-vaccine-manufacturer/articleshow/76763833.cms">only by the end of the year</a>, if successful. ICMR’s indigenous COVID-19 vaccine (BBV152 COVID vaccine) or ‘Covaxin’ is currently under clinical trials. ICMR is working in partnership with Bharat Biotech International Limited (BBIL) to develop this vaccine. According to reports, this is one of the top priority projects which is being monitored at the topmost level of the government. If successful, this will be the first indigenous vaccine being developed by India. “The vaccine is being derived from a strain of SARS-CoV-2 isolated by ICMR-National Institute of Virology, Pune. ICMR and BBIL are jointly working for the preclinical as well as clinical development of this vaccine,” ICMR Director General Balram Bhargava wrote in a letter to the heads of the selected institutions. Bharat Biotech’s track record in developing vero cell culture platform technologies has been proven in several vaccines for Polio, Rabies, Rotavirus, Japanese Encephalitis, Chikungunya and Zika. “It is envisaged to launch the vaccine for public health use latest by August 15, 2020, after completion of all clinical trials. BBIL is working expeditiously to meet the target. However, the final outcome will depend on the cooperation of all clinical trial sites involved in this project,” reads the letter dated July 2. Informing the institutions of their selection as clinical trials sites for the vaccine the IMCR director-general strictly advised them to fast track all approvals related to the initiation of the clinical trial and ensure that the subject enrollment is initiated no later July 7, 2020. ICMR’s COVID-19 vaccine doesn’t sound convincing to experts However, the letter of ICMR received much criticism from experts on social media for its tone. Some even questioned ICMR for deciding the efficacy of the vaccine even before the clinical trials. <div type="twitter" handle="AnantBhan" handlename="Anant Bhan" image="http://pbs.twimg.com/profile_images/1017714876964171776/_Qri-OTb_normal.jpg" favoritecount="1510" retweetcount="904" status="This is a letter which has been sent out by the ICMR DG yesterday. Now that multiple folks have confirmed genuinene… https://t.co/uaj5aMgUyV" createdat="1593748686000" id="1278900800530472960"></div> Earlier in May, <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">Kiran Mazumdar Shaw, founder and executive chairperson at Biocon told Business Insider</a> that vaccine development takes a lot of time because several phases are involved in it. In the first phase, a dose escalation is done to see what the ideal dose for an optimal immune response is. In the second phase, it is tested if the immune response can be done in all age groups. This is important as the first phase is conducted with young, healthy volunteers who are at minimal risk. In the third phase, the vaccine is given to a larger population to ensure that the same immune response is given by everyone who is vaccinated. “One of the most important things of this phase is to check how long the immunity stays. This allows us to determine how often a person will have to get revaccinated,” Shaw further noted. Speaking about the production capacity, Shaw said that even after the vaccine is approved, India may not be able to produce more than 10-20 million doses in the first year, which is a negligible amount considering India’s population. ICMR selects 12 institutes for clinical trial The ICMR has selected 12 institutes, including one from Odisha, for the clinical trial of ‘COVAXIN’. Bhubaneswar-based Institute of Medical Sciences and SUM Hospital under the SOA Deemed to be University, has been chosen by the Indian Council for Medical Research (ICMR) for undertaking human clinical trials of India’s first coronavirus vaccine. In view of the public health emergency due to COVID-19 pandemic and urgency to launch the vaccine, the selected institutes are strictly advised to fast track all approvals related to the initiation of the clinical trial and ensure that the subject enrolment is initiated during the first week of July. Apart from IMS and SUM Hospital, the other institutes selected for the clinical trial are located in Visakhapatnam, Rohtak, New Delhi, Patna, Belgaum (Karnataka), Nagpur, Gorakhpur, Kattankulathur (Tamil Nadu), Hyderabad, Arya Nagar, Kanpur (Uttar Pradesh) and Goa. SEE ALSO:<a href="https://www.businessinsider.in/india/news/these-are-the-companies-manufacturing-covid-19-remdesivir-medicine-in-india/articleshow/76747405.cms" data-type="tilCustomLink"> These are the companies manufacturing COVID-19 drug Remdesivir in India</a> <a href="https://www.businessinsider.in/india/news/pm-narendra-modi-reaches-leh-with-general-bipin-rawat-and-general-mm-naravane-after-the-galwan-valley-standoff-with-china/articleshow/76763940.cms" data-type="tilCustomLink">PM Narendra Modi visits Ladakh – two weeks after the Galwan valley standoff with China</a>

India wants a COVID-19 vaccine by August 15 at the risk of rushing trials and approvals

Welcome to <a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">Dispensed Daily</a>, your daily dose of <keyword id="6354525" type="UNKNOWN" weightage="100" keywordseo="healthcare">healthcare</keyword> news from Business Insider's healthcare editor Lydia Ramsey Pflanzer. <a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">Subscribe here to get this newsletter in your inbox every weekday.</a>Hello,Happy Tuesday! Today, a look at what's inside Congress's next <keyword id="1754604" type="PERSON" weightage="60" keywordseo="coronavirus">coronavirus</keyword> <keyword id="41832" type="PERSON" weightage="60" keywordseo="Stimulus-bill">stimulus bill</keyword>, a plant-based coronavirus <keyword id="24209" type="PERSON" weightage="60" keywordseo="vaccine">vaccine</keyword> makes it into human testing, and a look at the downfall of Civilized, a cannabis media startup.<a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7"><div type="image" title="Senate Majority Leader Mitch McConnell" height="1000" width="1333" msid="76962295" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7">From stimulus checks to unemployment benefits, top analysts shared their predictions for the next coronavirus bailout package. They're pegging it at $1.5 trillion.</a></h3><ul><li>Congress and the Trump administration are negotiating another coronavirus stimulus bill.</li><li>Top analysts told us the legislation will spend $1.5 trillion in all.</li><li>As part of it, <a href="https://www.businessinsider.com/analyst-predictions-for-unemployment-benefits-in-stimulus-package-2020-7">analysts say they expect the next coronavirus bailout to blend unemployment payments and back-to-work bonuses.</a></li><li><a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7">Here's what's expected in the next bill.</a></li></ul><a href="https://www.businessinsider.com/congress-prepares-fifth-coronavirus-stimulus-package-checks-liability-2020-7">Read the full story from Kimberly Leonard here&gt;&gt;</a><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7"><div type="image" title="Medicago Durham North Carolina greenhouse, coronavirus vaccine" height="1333" width="1778" msid="76962296" hostid="261"></div></a><h3><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7">The Canadian biotech Medicago is betting it can make a coronavirus vaccine out of plants, and it just started testing it in humans</a></h3><ul><li>Among the more than 150 research programs working to develop a coronavirus vaccine, <keyword id="2478340" type="COMPANY" weightage="60" keywordseo="Medicago">Medicago</keyword> stands out with its plant-focused approach.</li><li> Medicago developed its vaccine using a unique approach that turns the cells of a tobacco-like crop into protein-producing minifactories, CEO Bruce Clark told Business Insider. </li><li><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7">On Tuesday, the privately held Canadian drugmaker started testing its vaccine candidate in humans.</a></li></ul><a href="https://www.businessinsider.com/medicago-ceo-interview-on-coronavirus-vaccine-trial-timeline-2020-7">Read the full story from Andrew Dunn here&gt;&gt;</a><h3><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6"><div type="image" title="civilized cannabis media company downfall 4x3" height="1801" width="2400" msid="76962300" hostid="261"></div></a></h3><h3><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6">The inside story of the downfall of Civilized, a cannabis media startup that raised $7 million, then had to shut down after a takeover offer fell through</a></h3><ul><li>Civilized and its husband-and-wife founders were soaring as cannabis legalization looked poised to sweep the US a few years ago.</li><li>But after a series of layoffs and business pivots, as well as a failed takeover attempt, Civilized has let go of all of its staff and suspended operations.</li><li><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6">Civilized's management team told Business Insider they were in negotiations to restructure their debt and bring on new investors for a relaunch.</a></li></ul><a href="https://www.businessinsider.com/inside-civilized-cannabis-media-startup-2020-6">Read the full story from cannabis senior reporter Jeremy Berke here&gt;&gt;</a>More stories we're reading:<ul><li><a href="https://www.statnews.com/2020/07/13/cdc-apolitical-island-defenseless/">The CDC's apolitical stance made it vulnerable to President Trump</a> (Stat News) </li><li><a href="https://www.businessinsider.com/who-perfect-coronavirus-vaccine-not-likely-immediately-2020-7">WHO: We won't immediately have a 'perfect vaccine,' and it is 'not realistic' to expect the virus will soon be eliminated</a> (Business Insider)</li><li><a href="https://www.reuters.com/article/us-india-biocon/indias-biocon-secures-approval-use-drug-on-coronavirus-patients-idUSKCN24C0K8">Drugmaker Biocon got approved to use its drug itolizumab to treat coronavirus patients in India</a> (Reuters)</li><li><a href="https://markets.businessinsider.com/news/stocks/moderna-stock-price-forecast-coronavirus-vaccine-jefferies-wall-street-bull-2020-7-1029388494">Moderna surges 18% on report the stock will join the Nasdaq 100 and as analyst predicts 45% upside</a> (Markets Insider) </li></ul>What trends in healthcare are you keeping an eye on? Let me know at lramsey@businessinsider.com.<a href="http://newsletter.businessinsider.com/join/4np/dispensed-daily">And remember to subscribe to this daily email here.</a>- Lydia

Here's what top analysts expect in the next coronavirus bailout

<ul><li>While Oxford’s vaccine candidate is in phase III trials, it will still take at least eight more months to make it available to the public, if successful. </li><li>Nonetheless, <keyword id="52604" type="ORGANIZATION" weightage="20" keywordseo="SII">SII</keyword> will soon start manufacturing about 300 million doses of the unproven <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> vaccine, <a href="https://www.news18.com/news/india/ready-for-masses-by-march-2021-adar-poonawallas-plan-for-covid-19-vaccines-trials-in-mumbai-pune-2727337.html">CNN-News 18 reported citing Adar Poonawala.</a> </li><li>SII will also begin the actual trial of the coronavirus vaccine on hospital patients in <keyword id="6358070" type="DEFINITION" weightage="20" keywordseo="mumbai">Mumbai</keyword> and <keyword id="2094" type="COMPANY" weightage="20" keywordseo="Pune">Pune</keyword>. </li><li> The vaccine, if effective, is expected to hit the Indian market in the first quarter of 2021. </li></ul>After promising results from the phase I trial of Oxford’s coronavirus vaccine candidate, <keyword id="242973" type="ORGANIZATION" weightage="20" keywordseo="Serum-Institute">Serum Institute</keyword> of India(SII) is all set to conduct human trials in India. SII, the world’s largest vaccine manufacturer, earlier in April, partnered with the University of Oxford and AstraZeneca to mass-produce billions of doses of their potential coronavirus vaccine candidate. While Oxford’s vaccine candidate is in phase III trials, it will still take at least eight more months to make it available to the public, if successful. Nonetheless, SII will soon start manufacturing about 300 million doses of the unproven coronavirus vaccine, <a href="https://www.news18.com/news/india/ready-for-masses-by-march-2021-adar-poonawallas-plan-for-covid-19-vaccines-trials-in-mumbai-pune-2727337.html">CNN-News 18 reported citing Adar Poonawala.</a> Oxford vaccine trials in India: Indicative timeline Here’s what Adar Poonawala, the chief executive officer of SII has proposed — July 2020: SII to submit their DMCA seeking permission to conduct phase 2 trials. Poonawalla believes SII will be able to “conclude all the design, type, and all the other aspects of the trial” in the next few weeks. August 2020: On completion of all the aspects of the trials, SII will begin the actual trial of the coronavirus vaccine on hospital patients in Mumbai and Pune. November 2020: The trials will involve about 5,000 participants and are likely to be completed by November this year. December 2020: Once the trials are successful, the vaccine will go to Central Research Institute in Kasauli before making it publically available. However, a few million doses will be given to those immunocompromised, like health workers, by December. March 2021: The vaccine, if effective, is expected to hit the Indian market in the first quarter of 2021. SII, which can produce 800 million doses of vaccine annually, will be able to make 300 million doses in the next four months. Even if the vaccine is made publicly available by March next year, Poonawalla believes it will take another three to four years to vaccinate everybody in the world with two doses. Industry stalwarts have raised concerns about the accessibility and easy availability of vaccines. <a href="https://twitter.com/BiIndia/status/1257988686739673088">According to Kiran Mazumdar Shaw</a>, the Director, and Founder of Biocon, even after the vaccine is approved, India may not be able to produce more than 10-20 million doses in the first year, which is a negligible amount considering India’s population. “There are 26 million children born in India every year, but we still struggle to vaccinate even 70% of them. How can we think that we can overnight go and vaccinate 1.4 billion people?. I don’t think vaccines are a major option for India until 2022,” <a href="https://twitter.com/BiIndia/status/1257988686739673088">Dr Ramanan Laxminarayan, Director CDDEP earlier told Business Insider India</a>. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-upcoming-affordable-smartphone-oneplus-nord-launch-price-specifications-features/articleshow/77061620.cms">OnePlus Nord launch price, specs and more – Everything we know about the upcoming affordable OnePlus smartphone</a>

Here's an indicative timeline for the Oxford vaccine — from phase-3 trials to the final supply in the market

<ul><li>The University of Oxford might release early-stage human trial data on July 20, reported Reuters citing The Lancet medical journal. </li><li>University of Oxford’s coronavirus vaccine candidate is the most advanced vaccine candidate against COVID-19 under Phase II trial. </li><li>While the unproven vaccine is already being mass-produced, the data will help understand whether it is safe to use or not. </li><li>Even if it is proven to be a deterrent for COVID-19 virus, it would take a long time for the vaccine to be available for mass production and supply. </li></ul>There is a lot of buzz around the coronavirus vaccine under trial at the University of Oxford. Reports suggest that there may be ‘good news’ soon but, whatever the result, this should not be a cue to throw caution to the wind. The mass production and supply of the vaccine may take a much longer time and saving lives from COVID-19 in the interim will be just as much a challenge as it is right now. The University of Oxford, which is among the only three institutions in the world to start Phase III trials for coronavirus vaccine, might release early-stage human trial data on July 20, <a href="https://in.reuters.com/article/us-health-coronavirus-oxford-vaccine-itv/early-stage-trial-data-on-astrazeneca-covid-19-vaccine-due-monday-lancet-idINKCN24G1BD">reported Reuters citing The Lancet medical journal. </a> “I am hearing there will be positive news soon (perhaps tomorrow) on initial trials of the Oxford Covid-19 vaccine that is backed by AstraZeneca and supported by tens of millions of pounds of government money. The first data is due to be published in the Lancet.”<a href="https://indianexpress.com/article/explained/explained-twin-hopes-on-covid-vaccine-front-6507730/"> ITV’s political editor Robert Peston wrote</a>. University of Oxford’s coronavirus vaccine candidate is the most advanced vaccine candidate against COVID-19 under Phase II trial — which involves thousands of participants in South Africa, UK, and Brazil. Oxford says the <a href="https://www.businessinsider.in/science/news/2-billion-doses-of-the-oxford-coronavirus-vaccine-will-be-available-after-a-new-deal-that-included-750m-from-bill-gates-astrazeneca-says/articleshow/76215890.cms">potential coronavirus vaccine could be ready by September. </a> Oxford has struck a deal with pharma giant Astra Zeneca to mass-produce the vaccine — and provide about 2 billion doses to the world if successful. READ ALSO:<a href="https://www.businessinsider.in/science/health/news/checkout-the-list-of-coronavirus-vaccines-under-human-trials-right-now-worldwide-/slidelist/76994365.cms"> These are the coronavirus vaccines under human trials right now</a> <a href="https://twitter.com/BiIndia/status/1257988686739673088">According to Kiran Mazumdar Shaw</a>, the Director and Founder of Biocon, even after the vaccine is approved, India may not be able to produce more than 10-20 million doses in the first year, which is a negligible amount considering India’s population. “There are 26 million children born in India every year but we still struggle to vaccinate even 70% of them. How can we think that we can overnight go and vaccinate 1.4 billion people?, I don’t think vaccines is a major option for India until 2022,” <a href="https://twitter.com/BiIndia/status/1257988686739673088">Dr Ramanan Laxminarayan, Director CDDEP earlier told Business Insider India</a>. The scale of the experiment As many as 1,102 participants <a href="https://indianexpress.com/article/explained/explained-twin-hopes-on-covid-vaccine-front-6507730/">were recruited to experiment with </a>the vaccine in the UK in April. And after almost a month Profession Andrew Pollard, head of the Oxford vaccine Group said the clinical studies are “progressing very well.” While the unproven vaccine is already being mass-produced, the data will help understand whether it is safe to use or not. As many as 10,000 volunteers<a href="https://www.businessinsider.in/science/news/2-billion-doses-of-the-oxford-coronavirus-vaccine-will-be-available-after-a-new-deal-that-included-750m-from-bill-gates-astrazeneca-says/articleshow/76215890.cms"> are being testing in Phase II/III clinical trials </a>in the UK. The promising results of the Oxford vaccine in its pre-clinical trial stage were supported by American businessman Bill Gates. Moreover, I<a href="https://www.indiatoday.in/business/story/lakshmi-mittal-supports-oxford-jenner-institute-vaccine-research-1701165-2020-07-16">ndian steel magnate Lakshmi Mittal too donated about £3.2 million pounds</a> to support Oxford Jenner Institute. Apart from this, the US-based biotech firm Moderna said on July 14 that it would enter the final stage of human trials for its COVID-19 vaccine on July 27 after the vaccine showed promising results. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/jio-glass-akash-ambani-and-isha-ambani-announce-reliances-latest-product-which-offers-holographic-video-calls/articleshow/76977640.cms">Jio Glass – Akash Ambani and Isha Ambani announce Reliance’s latest product which offers holographic video calls</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-16-increase-leads-to-surge-in-infosys-share-price-too/articleshow/76973619.cms">Wipro share price 16% increase leads to surge in Infosys share price too</a> <a href="https://www.businessinsider.in/science/health/news/moderna-covid19-vaccine-will-be-in-final-stages-of-human-trial-starting-july-27/articleshow/76972580.cms">Moderna's COVID-19 vaccine will be in final stages of human trial starting July 27</a>

The world can’t wait for good news from Oxford, Serum Institute and AstraZeneca ⁠— but that is only the first step

New Delhi, May 15 () Biotechnology major Biocon has reported a 42 per cent decline in its consolidated net profit to Rs 123 crore for the quarter ended March 2020, mainly on account of one-time coronavirus-related impact on its biologics business. The company had posted a net profit of Rs 214 crore for the corresponding period of the previous fiscal, Biocon said in a statement. Consolidated total income of the company rose up by 6 per cent to Rs 1,644 crore as against Rs 1,557 crore for the same period year ago, it added. "Q4FY20 witnessed a muted growth of 6 per cent with revenues at Rs 1,644 crore due to operational challenges including one-time COVID-19 related impact on our biologics business," Biocon Executive Chairperson Kiran Mazumdar-Shaw said. Small molecules and research services businesses, however, delivered robust growth of 15 per cent and 14 per cent, respectively, she added. Consolidated net profit for the fiscal year ended March this year stood at Rs 748 crore. It was Rs 905 crore for the same period year ago, Biocon said. Total income of the company rose to Rs 6,529 crore for the fiscal year ended March 2020 as against Rs 5,659 crore for the same period year ago, it added. "On a full-year basis, we reported a revenue growth of 15 per cent led by a strong performance by biologics, which grew by 29 per cent, small molecules by 18 per cent and research services by 10 per cent. We believe that the Biologics business will recover in Q1FY21 and fully normalise from Q2FY21," Mazumdar-Shaw said. Net profit, before the exceptional item, was at Rs 760 crore, a growth of 4 per cent, she added. "We are dealing with unprecedented challenges related to COVID-19 and as a science-led company we are engaged in several initiatives spanning diagnostic tests, vaccines and therapies towards combating COVID-19," Mazumdar-Shaw said. Shares of Biocon were trading at Rs 323.50 per scrip on BSE, down 3.52 per cent from their previous close. AKT ANSANS

Biocon Q4 net profit falls 42 pc to Rs 123 cr due to one-time COVID-19 impact

<ul><li>In April, <keyword id="606164" type="COMPANY" weightage="20" keywordseo="Franklin-Templeton-India">Franklin Templeton India</keyword> shut down six debt funds, locking in ₹30,800 crore of investor wealth after a surge in redemptions.</li><li>Explaining the reason behind this, Franklin Templeton CEO Jennifer M Johnson said that this is a liquidity issue and not a solvency issue.</li><li>Franklin Templeton India’s assets under management (AUM) declined by almost 43% – from $7 billion to $4 billion.</li></ul>Franklin Templeton India, one of the oldest <keyword id="35469" type="ORGANIZATION" weightage="20" keywordseo="asset-management-companies">asset management companies</keyword> (AMC) in the country, decided to wind down six debt funds amounting to ₹30,800 crore in investor wealth. Now, in an earnings call, Franklin Templeton President and CEO Jennifer M Johnson has explained what exactly went wrong with its India business. “We're doing everything we can for those shareholders, to make sure they get all their money back. That's what the strategy is,” said Franklin’s Chief Financial Officer Matthew Nicholls. ‘This is not a solvency issue’ Franklin global chief Johnson also noted that this is not a solvency issue, and that the winding down was done to protect the capital of clients. The surge in redemptions created a liquidity issue, and to meet it, Franklin Templeton India would have had to ‘sell those assets at a fire sale’, but regulations prevented it from doing so. <div type="Article" hostid="261" msid="75348506" title="A personal finance expert answers the most troubling questions about Franklin Templeton mutual funds" mstype="2" mssubtype="0"></div> 2019 regulation hit Franklin’s debt funds “In October of 2019, unfortunately, SEBI came out with new guidelines saying that any investments in unlisted instruments can't be more than 10% of the fund, and you can't trade them. So that orphaned about 1/3 of our fund there,” Johnson <a href="https://www.fool.com/earnings/call-transcripts/2020/05/01/franklin-resources-inc-ben-q2-2020-earnings-call-t.aspx">said</a> in response to a question by a Goldman Sachs analyst. The AMC had announced the shutdown of the following six funds: <ul><li>Franklin India Low Duration Fund </li><li>Franklin India Dynamic Accrual Fund </li><li>Franklin India Credit Risk Fund </li><li>Franklin India Short Term Income Plan </li><li>Franklin India Ultra Short Bond Fund </li><li>Franklin India Income Opportunities Fund </li></ul>Due to these six funds being shut down, ₹30,800 crore of investor wealth has been locked in. Franklin Templeton India’s AUM declined from $7 billion to $4 billion The Coronavirus crisis coupled with the economic slowdown has led to a decline of almost 43% in Franklin Templeton India’s assets under management (AUM) when it comes to debt funds. “Now, in the meantime, we worked hard to manage laddering maturities, diversifying sectors, diversifying ownership and had been able to manage a decline from about $7 billion to just under $4 billion,” Johnson added. Vodafone Idea AGR ruling ‘created a run on the funds’ Explaining the reason for the decline in its AUM, Johnson said that the adverse ruling against Vodafone Idea in the AGR case ‘created a bit of a run on the funds’. “We looked at it and just decided the only way to really preserve the value for our investors was to halt any kind of subscriptions and redemptions and really go into wind-down mode,” Johnson explained the reasoning behind winding down the six debt funds. SEBI launches probe in Franklin Templeton’s India unit Market regulator SEBI launched a probe into Franklin Templeton’s India unit, according to a report by Livemint. The probe seeks to understand if the AMC misrepresented the risk involved in these funds. “The queries from SEBI are on the portfolio of these six schemes, rationale for choosing these papers, extent of bank borrowing, and how liquid the underlying bonds are,” the <a href="https://www.livemint.com/news/india/franklin-templeton-s-decision-to-wind-up-6-debt-schemes-attracts-multiple-probes-11588503867942.html">report</a> added, quoting an unnamed source. See also: <a href="https://www.businessinsider.in/personal-finance/news/a-personal-finance-expert-answers-the-most-troubling-questions-about-franklin-templeton-mutual-funds/articleshow/75348506.cms">A personal finance expert answers the most troubling questions about Franklin Templeton mutual funds</a> <a href="https://www.businessinsider.in/science/health/news/biocon-chairperson-kiran-mazumdar-shaw-says-indias-covid-19-vaccines-will-enter-clinical-trial-in-9-months/articleshow/75591805.cms">Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months</a> <a href="https://www.businessinsider.in/business/news/without-rbis-help-rupee-value-might-slump-to-80-per-dollar-says-report/articleshow/75273796.cms">Without RBI’s help, Rupee value might slump to 80 per dollar says report</a>

You Searched For "biocon coronavirus vaccine" and got 12 results

There are a lot of coronavirus vaccines in the works⁠— but these are the two that Indians should watch out for

Prabhjote Gill

Don’t hold your breath ⁠— Biocon founder Kiran Mazumdar Shaw says India's Covid-19 vaccine will enter clinical trials in 9 months

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Biocon’s Kiran Mazumdar Shaw, who debuted in the pharma industry with two employees and $500 becomes EY World Entrepreneur of the Year 2020

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Biocon to launch drug for COVID-19 patients at ₹ 8,000 per vial

PTI

Here's why Indians are searching on Google for how to make coronavirus vaccines at home

Rounak Jain

US secures almost entire world stock of Covid-19 drug remdesivir from Gilead Sciences for the next three months

IANS

India wants a COVID-19 vaccine by August 15 at the risk of rushing trials and approvals

Navdeep Yadav

Here's what top analysts expect in the next coronavirus bailout

Lydia Ramsey Pflanzer

Here's an indicative timeline for the Oxford vaccine — from phase-3 trials to the final supply in the market

BI India Bureau

The world can’t wait for good news from Oxford, Serum Institute and AstraZeneca ⁠— but that is only the first step

BI India Bureau

Biocon Q4 net profit falls 42 pc to Rs 123 cr due to one-time COVID-19 impact

PTI

Franklin Templeton reassures Indian investors that their money is safe — and the delay in repayments is due to cash crunch

Rounak Jain

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