Pfizer Inc (NYSE: PFE) has told the Indian government it wants to produce its COVID-19 vaccine locally if assured of faster regulatory clearance and freedom on pricing and exports, reports Reuters.

• Last month, the company pulled out its marketing application seeking emergency approval for its COVID-19 shot in India after failing to adhere to the drug regulator’s request for a small local study.
• Pfizer was the first company to apply for emergency use authorization in India, proposing to import doses from its U.S. and European facilities instead of producing locally.
• “U.S. companies want to produce vaccines in India under joint ventures,” said one of the sources, citing Pfizer and fellow U.S. drug maker Moderna Inc (NASDAQ: MRNA).
• Another source confirmed Pfizer was interested in manufacturing in India, but Reuters could not find a second confirmation on Moderna.
• The Serum Institute of India is the world’s largest vaccine maker and is already bulk-manufacturing the Oxford University/AstraZeneca Plc (NASDAQ: AZN) COVID-19 vaccine and plans to start producing the Novavax Inc (NASDAQ: NVAX) shot from next month.
• Price Action: PFE shares are up 0.7% at $34.69, and BNTX shares gained 2.74% at $99.12 in market trading on the last check Wednesday.