Vaccine majors Serum Institute of India (SII) and Bharat Biotech on Saturday said they have decided to cut prices of the precaution dose of their respective COVID-19 vaccines to Rs 225 per shot for private hospitals after discussion with the government.

"We are pleased to announce that after discussion with the central government, SII has decided to revise the price of COVISHIELD vaccine for private hospitals from Rs 600 to Rs 225 per dose," SII CEO Adar Poonawalla said in a tweet.