Russia's Sputnik V vaccine against COVID-19 will cost governments much lower than that of Pfizer's and Moderna's, the official Twitter handle of the world's first registered vaccine against the pandemic said on November 22.

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"Translating pharma lingo: the announced price of Pfizer of $19.50 and Moderna of $25-$37 per dose actually means their price of $39 and $50-$74 per person. Two doses are required per person for the Pfizer, Sputnik V and Moderna vaccines. The price of Sputnik V will be much lower," said the tweet. According to a spokesman for the Russian Direct Investment Fund (RDIF), RDIF is Russia's sovereign wealth fund, the price of the Russian vaccine will be made public next week, TASS news agency reported.

Russia became the first country to give regulatory approval to a COVID-19 vaccine in August when Sputnik V was officially registered ahead of large-scale clinical trial. The vaccine was developed by the Gamaleya National Research Centre for Epidemiology and Microbiology of the Russian Health Ministry. The third, post-registration, stage of clinical tests began on August 25. The vaccine was developed on a platform that had been used for a number of other vaccines.

According to the Russian Health Ministry, these vaccines have proved their ability to form lasting immunity for a period of up to two years. The first batch of the vaccine was dispatched to Russian regions on September 12, said the TASS report.