Serum Institute reduces Covishield price for govt hospitals to Rs 300 The decision was announced by CEO Adar Poonawalla, who said that this reduction of price is a philanthropic gesture on the part of Serum. He added that this price cut will save thousands of crores of state funds as well as save countless lives BusinessToday.In | April 28, 2021 | Updated 18:32 IST Covishield price cut to Rs 300 for govt hospitals Serum Institute of India has decided to reduce the price of its coronavirus vaccine Covishield to Rs 300 from the earlier rate of Rs 400. The decision was announced by CEO Adar Poonawalla, who said that this reduction of price is a philanthropic gesture on the part of Serum. He added that this price cut will save thousands of crores of state funds as well as save countless lives.