After multiple threats against Adar Poonawalla, CEO of the Serum Institute of India (SII), the company has decided to expand its vaccine business to the United Kingdom. The investment would be about 240 million.
SII To Create 6500 Jobs in Britain
As per the latest reports, the Serum Institute of India (SII) will invest 240 million pounds in the UK to expand their vaccine business and create jobs in the country. This comes after the 1 billion-pound India-UK Enhanced Trade Partnership.
With the investment plans in the UK, SII will also be opening a new sales office in the UK. Furthermore, the first phase of nasal vaccine against coronavirus trials has already begun in the UK in partnership with Codagenix, UK.
Talking about the same, an official from the Downing Street said that the upcoming sales office is expected to create new business opportunities worth over 1 billion pounds and 200 million pounds of which will be invested in the UK Serum’s investment. The investment is further expected to support the trails, research and development and the possible manufacturing of vaccines.
This plan is expected to help the world defeat the pandemic virus and other deadly diseases. The official further added that SII is currently in the process of trails for the one-dose nasal vaccine for Coronavirus.
Indian Government Fails To Place Vaccine Orders With SII; Reports
The news came after many reports claimed that India had not placed any fresh order with the SII and BioNTech for Covid 19 vaccine since March. However, both Indian government and the SII refused the allegations. Poonawalla said that the Indian government has already received orders for 26 crore doses from the Indian government.
In a statement, Poonawalla said that they have received orders for 26 crores of Covid 19 vaccines. Out of these, they have already supplied over 15 crore doses. And the remaining 11 crores of vaccine doses will be supplied in the next couple of months via the second channel of states and private hospitals.
Reports suggest that the country is likely to face the shortage of Covid 19 vaccines until July. The production is expected to increase from about 60 million to 70 million doses a month to 100 million by July.