How is the indemnity clause issue being handled? The story so far: More than six months after the government announced it would fast-track clearances for foreign COVID-19 vaccines to India, the indemnity clause is still holding up the import of all American vaccines to India, including those manufactured by Pfizer, Johnson & Johnson and Moderna. Without specifying a timeline, a senior Health Ministry official said talks are on and that the “indemnity clause is also being discussed.”What is indemnity and why is it needed? There appears to be no precedent for any company getting such indemnity in India for any drug. By indemnifying the companies in respect of these vaccines, the government of India may be able to negotiate lower prices and higher volumes.

Source: The Hindu November 09, 2021 08:12 UTC