Vaccine maker SII to set up first manufacturing plant in Africa
Asked about possible investments, Poonawalla said such projects typically required at least around $300 million.;
Advertisement
Switzerland: The Serum Institute of India (SII), the world's biggest vaccine maker, is considering setting up its first manufacturing plant in Africa as it looks to expand globally after its success in selling COVID-19 shots, its CEO told Reuters on Monday.
Africa was the only continent that did not have its own manufacturing capacity for COVID shots during the worst phases of the pandemic in the last two years, leaving it at the mercy of suppliers from overseas, including the SII.
"It's never been a better time to be a vaccine manufacturer. I'm looking at expanding our manufacturing across the globe," SII Chief Executive Adar Poonawalla said during an interview at the World Economic Forum in Davos.
"There are some great countries out there: South Africa, Rwanda, you know, to name a few that we're looking at."
Poonawalla said he was meeting some African officials in Davos to discuss his plans. Asked about possible investments, he said such projects typically required at least around $300 million.
The SII has also pulled the plug on a plan to produce and sell about 300 million doses of Russia's Sputnik Light COVID vaccine. However, it is still making millions of doses of a version of the Novavax COVID shot for India and other countries, Poonawalla said.
He estimated privately held SII was now valued at roughly $20 billion, but said there was no immediate plan to go public.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.