Serum Institute to invest around Rs 2400 crore in Britain

Questions are being raised about the slowing vaccination in the midst of the growing Kovid crisis in the country and the Central Government and Serum Institute (SII). SII CEO Adar Poonawala is in London for the last few days and has given interviews to several newspapers. They are constantly talking about the lack of vaccines. It is now reported that Poonawala will invest £ 240 million (about Rs 2450 crore) in the UK to expand its vaccine business.

In addition to investing in the Serum Institute UK, a new sales office will also be opened, which will create jobs. The UK has announced this under the £ 1 billion India-UK Enhanced Trade Partnership. The new partnership will create 6500 jobs in the UK.

The Pune-based Serum Institute is among the 20 Indian companies that have announced investment in the UK from healthcare to biotech and software services sectors.

The UK said that the sales office is estimated to have a business of $ 1 billion, of which £ 200 million will be invested in the UK.

Trial of nasal vaccine begins

According to news agency PTI, the Serum Institute has started the first stage trials of the nasal vaccine against the corona virus in the UK.

The British government said in its statement that SII’s investment would support clinical trials, research and development and vaccine manufacturing. The government said, “The Serum Institute has already begun a first-stage trial of a single dose nasal vaccine in the UK in association with Codagenix INC.”

Recently, Poonawala had indicated in an interview to The Times newspaper that the Serum Institute is planning to produce vaccines outside India as well. Poonawala had said, “It will be announced in the next few days.”

Questions are being raised about the slow production on SII producing Covishield. On this, Adar Poonawala told the Financial Times that ‘the lack of vaccine can last till July.