SERUM INSTITUTE OF INDIA TO RAISE $1 BILLION FOR VACCINE DEVELOPMENT IN INDIA – REPORT

Home > News Shots > Business

By Nidharshana | Aug 18, 2020 03:34 PM

The Serum Institute of India is to raise $1 billion, around Rs.7,500 crore for the development of COVID-19 vaccine. SII is the world’s leading and largest manufacturer of vaccine by volume. It is currently in discussion with private firms to raise money.

Serum Institute of India to raise $1 billion covid19 vaccine

Times Now reported that it is currently in talks with KKR, Blackstone as well as philanthropists for raising the required money, by September. “We are in talks with a few investors but there is no comment beyond that,” the company revealed. Privately owned by Cyrus and his son Adar Poonawalla the company plans to launch a special purpose vehicle for the potential candidates of vaccine. “So far we have five candidates, including two of our own. We might explore partnership with two more, which we can't talk about at this stage.”

The SII has also signed agreements with Novavax and AstraZeneca. In August, the Pune-based company received $150 million in funding from the Bill & Melinda Gates Foundation and the GAVI vaccines alliance. This funding is to be directed towards producing 100 million vaccine doses for India as early as 2021.

Around the same time as the funding, the Drug Controller General of India gave a green signal for SII to conduct phase II and III of clinical human trials, of the Oxford’s Covid-19 vaccine named as Covishield. Upon successful completion of the same SII will begin production according to previous statements made in media.

அரசியல், விளையாட்டு, நாட்டுநடப்பு, குற்ற சம்பவங்கள், வர்த்தகம், தொழில்நுட்பம், சினிமா, வாழ்க்கை முறை என பலதரப்பட்ட சுவாரஸ்யமான செய்திகளை தமிழில் படிக்க இங்கு கிளிக் செய்யவும்      

RELATED NEWS STORIES

ABOUT THIS PAGE

This page contains news relating to various facts and events. The views are generally about current affiars and general topics in diversified areas such as political, international, national, and regional issues, sports, health, travel, lifestyle, technology and business. People having similar interets on the above topics will find this page useful. Serum Institute of India to raise $1 billion covid19 vaccine | Business News.