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<ul><li>Poonawalla has rented out a mansion in Mayfair, London from Polish billionaire Dominika Kulczyk.</li><li>His new neighbours would be billionaires from around the world – a Chinese heiress, businessman John Caudwell who owns the phone retail company Phones 4u.</li><li>But there’s more to Mayfair’s history.</li></ul><keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> is a busy man, after all he’s the man behind Serum Institute of India (SII) -- the largest vaccine manufacturer in the world that has most recently made the Oxford-Astrazeneca COVID-19 vaccine. Poonawalla, who belongs to one of India’s richest families, has a new address. Poonawalla has reportedly <a href="https://www.bloombergquint.com/business/ceo-rents-london-mansion-for-69-000-a-week-in-mayfair-record">rented out</a> a mansion in Mayfair, one of the most expensive residential areas in the world. Mayfair is in the city of Westminster, which falls within the greater London area. Poonawalla is shelling out $69,000 or just over ₹50 lakh as rent per week for his new house. Poonawalla is renting the property from Polish billionaire Dominika Kulczyk. The home is one of the biggest in the district and spreads across 25,000 square feet – which is <a href="https://www.ndtv.com/india-news/adar-poonawalla-rents-uk-mansion-for-69-000-a-week-report-2398321">reportedly </a>as much as 24 average homes, put together, in the UK. Poonawalla, who is an alumnus of the University of Westminster, has often referred to London as his second home. The billionaire’s rental in London comes at a time when the city’s real estate is recovering fast after the COVID-19 induced lull. According to real estate consulting firm Knight Frank, the total number of prospective buyers who are looking at over £10 million properties had doubled by January 2021, as compared to the year before. His new neighbours would be billionaires from around the world – a <a href="https://www.dailymail.co.uk/femail/article-9290657/Chinese-heiress-24-rents-five-bedroom-Mayfair-townhouse-record-breaking-130-000-MONTH.html">Chinese</a> heiress, businessman John Caudwell, who owns the phone retail company Phones 4u, among others. <cmsannotation type="cmsannotation" annotationid="Home to history" comment="subhead" text="Home to history">Home to history</cmsannotation> Poonawalla’s new Mayfair home also houses historic significance. The area is home to British royalty, dukes and duchesses. In fact, according to reports, of the 227 houses built in the area, hundreds of years ago, 117 belonged to those who had titles. The area also has some of the most <a href="https://www.thesun.co.uk/news/12391019/britains-most-expensive-homes-250m-mayfair-mega-mansion/">expensive homes</a> in Britain. Mayfair also houses the first bachelor pad of Britain’s former Prime Minister Winston Churchill. It was there that Churchill laid the foundation of his political career and was also the place where he wrote his first book Ian Hamilton’s March. So, of course, Mayfair properties don’t come cheap. As per Knight Frank, houses in Mayfair was sold for an average of £7.3 million in 2020. And for Poonawalla this isn’t the first historic or major real estate splurge. Poonawalla, who already owns some of the biggest and luxurious homes in India, had also <a href="https://qz.com/india/501268/record-breaking-sale-a-billionaire-has-bought-the-former-us-consulate-in-mumbai-for-113-million/">made news</a> in 2015 when he bought out the Mumbai mansion, which was once the address for the US consulate. He had paid a whopping $113 million for the home. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/khatabook-acquires-saas-business-management-app-biz-analyst-for-10-million/articleshow/81683288.cms">Khatabook acquires SaaS business management app Biz Analyst for $10 million</a>

India’s vaccine king Adar Poonawalla will pay $69,000 a week to live on the same neighbourhood as Winston Churchill once did

<ul><li>12 billion COVID-19 vaccine doses rolled out by <keyword id="23764" type="General" weightage="100" keywordseo="global" source="Orion">Global</keyword>.</li><li>The three-day event is being co-hosted by the Pune-based <keyword id="95879" type="General" weightage="50" keywordseo="serum-institute-of-india" source="Orion">Serum Institute of India</keyword>.</li><li>According to Global, the roll-out of more than 12 billion COVID-19 vaccine doses is the largest and fastest in history.</li></ul><keyword id="43588" type="General" weightage="50" keywordseo="world-health-organization" source="Orion">World Health Organization</keyword> (WHO) director-general Dr Tedros Adhanom Ghebreyesus on Thursday said global roll-out of more than 12 billion COVID-19 vaccine doses is the largest and fastest in human history. Addressing the annual general meeting of the Developing Countries Vaccine Manufacturers Network (DCVMN) virtually, he flagged the issue of inequities in access to COVID-19 vaccines. The three-day event is being co-hosted by the Pune-based Serum Institute of India (SII), the world's largest vaccine manufacturer by volume, said a statement. Global roll-out of more than 12 billion COVID-19 vaccine doses is the largest and fastest in history with an estimated 60 per cent doses produced by manufacturers in developing countries. Despite this achievement, stark inequities in access to COVID-19 vaccines remain," he said. "These inequities are due partly to the fact that globally vaccine production is too concentrated. To address this, the WHO and our partners have established the mRNA Tech Transfer hub in South Africa to facilitate the know-how in low &amp; middle-income countries," Ghebreyesus said. <keyword id="383467" type="General" weightage="50" keywordseo="adar-poonawalla" source="Orion">Adar Poonawalla</keyword>, CEO of SII, said it was a proud moment for his company to co-host the 23rd DCVMN annual general meeting in <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword>. "Today, the world is more aware and focused on chalking out an ambition-to-action roadmap for future pandemic preparedness. For that, building the infrastructure and regulations to ensure global equity and timely access to vaccines is the foremost priority," Poonawalla said. Union Minister for Health and Family Welfare Mansukh Mandaviya delivered the inaugural address. DCVMN is an international alliance of manufacturers from developing countries who are engaged in innovation, research, development, manufacturing and supply of high-quality vaccines to 170 countries. The organisation aims to protect people against known and emerging infectious diseases globally by increasing the production of high-quality vaccines in developing countries. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/should-you-buy-gold-this-dhanteras/articleshow/94997439.cms">Should you buy gold this Dhanteras?</a> <a href="https://www.businessinsider.in/business/corporates/news/tata-consumer-products-profit-grows-36-to-355-crore-in-q2-fy23/articleshow/94992535.cms">Tata Consumer Products profit grows 36% to ₹355 crore in Q2 FY23</a>

Global rollout of 12 billion Covid-19 vaccine doses largest-ever, but access is an issue: WHO

<keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword>, CEO, <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII) has said that vaccine nationalism in <keyword id="6407494" type="UNKNOWN" weightage="20" keywordseo="countries">countries</keyword>, including the US and <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> is likely to derail efforts to deliver 2 billion doses to poorer and middle-income nations. In an interview with a global news wire, <keyword id="25607" type="PERSON" weightage="20" keywordseo="poonawalla">Poonawalla</keyword> said countries are holding tight to their supplies and restricting access to materials needed to make more. Indian officials have also requested more vaccines than initially expected from the company, Poonawalla was quoted as saying. "We had to dedicate a lot of our capacity, which was not originally planned for India," he said. "We're trying to balance it out as much as possible, but again for the <keyword id="10943125" type="UNKNOWN" weightage="20" keywordseo="first-few-months">first few months</keyword> we have been directed to prioritise supplies to India and certain other countries that have a high disease burden." The company is responsible for providing more than half of the shots used so far in the WHO-backed Covax program that aims to provide equitable vaccine access across the world. Poonawalla said it will take two to three months for shipments to Covax to really pick up, and reaching the 2021 target of 2 billion doses will be challenging, he said, predicting it will "spill over by a few months". In an earlier tweet in February, Poonwalla had said SII has been asked to prioritise the huge needs of India and had asked "countries and governments" to be patient. "Dear countries &amp; governments, as you await #COVISHIELD supplies, I humbly request you to please be patient, @SerumInstIndia has been directed to prioritise the huge needs of India and along with that balance the needs of the rest of the world. We are trying our best," he said in the tweet. He had also assured <keyword id="6356687" type="LOCATION" weightage="20" keywordseo="canada">Canada</keyword> of vaccine delivery. "Dear Hon'ble PM @JustinTrudeau, I thank you for your warm words towards India and it's vaccine industry. As we await regulatory approvals from Canada, I assure you, @SerumInstIndia will fly out #COVISHIELD to Canada in less than a month; I'm on it!" SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a> <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-initial-public-offer-ipo-worth-581-crore-live-should-you-subscribe/articleshow/81543610.cms">Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?</a>

SII CEO believes 'vaccine nationalism' in India and the US could derail efforts to deliver two billion doses to poorer nations

<ul><li>While Oxford’s vaccine candidate is in phase III trials, it will still take at least eight more months to make it available to the public, if successful. </li><li>Nonetheless, <keyword id="52604" type="ORGANIZATION" weightage="20" keywordseo="SII">SII</keyword> will soon start manufacturing about 300 million doses of the unproven <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> vaccine, <a href="https://www.news18.com/news/india/ready-for-masses-by-march-2021-adar-poonawallas-plan-for-covid-19-vaccines-trials-in-mumbai-pune-2727337.html">CNN-News 18 reported citing Adar Poonawala.</a> </li><li>SII will also begin the actual trial of the coronavirus vaccine on hospital patients in <keyword id="6358070" type="DEFINITION" weightage="20" keywordseo="mumbai">Mumbai</keyword> and <keyword id="2094" type="COMPANY" weightage="20" keywordseo="Pune">Pune</keyword>. </li><li> The vaccine, if effective, is expected to hit the Indian market in the first quarter of 2021. </li></ul>After promising results from the phase I trial of Oxford’s coronavirus vaccine candidate, <keyword id="242973" type="ORGANIZATION" weightage="20" keywordseo="Serum-Institute">Serum Institute</keyword> of India(SII) is all set to conduct human trials in India. SII, the world’s largest vaccine manufacturer, earlier in April, partnered with the University of Oxford and AstraZeneca to mass-produce billions of doses of their potential coronavirus vaccine candidate. While Oxford’s vaccine candidate is in phase III trials, it will still take at least eight more months to make it available to the public, if successful. Nonetheless, SII will soon start manufacturing about 300 million doses of the unproven coronavirus vaccine, <a href="https://www.news18.com/news/india/ready-for-masses-by-march-2021-adar-poonawallas-plan-for-covid-19-vaccines-trials-in-mumbai-pune-2727337.html">CNN-News 18 reported citing Adar Poonawala.</a> Oxford vaccine trials in India: Indicative timeline Here’s what Adar Poonawala, the chief executive officer of SII has proposed — July 2020: SII to submit their DMCA seeking permission to conduct phase 2 trials. Poonawalla believes SII will be able to “conclude all the design, type, and all the other aspects of the trial” in the next few weeks. August 2020: On completion of all the aspects of the trials, SII will begin the actual trial of the coronavirus vaccine on hospital patients in Mumbai and Pune. November 2020: The trials will involve about 5,000 participants and are likely to be completed by November this year. December 2020: Once the trials are successful, the vaccine will go to Central Research Institute in Kasauli before making it publically available. However, a few million doses will be given to those immunocompromised, like health workers, by December. March 2021: The vaccine, if effective, is expected to hit the Indian market in the first quarter of 2021. SII, which can produce 800 million doses of vaccine annually, will be able to make 300 million doses in the next four months. Even if the vaccine is made publicly available by March next year, Poonawalla believes it will take another three to four years to vaccinate everybody in the world with two doses. Industry stalwarts have raised concerns about the accessibility and easy availability of vaccines. <a href="https://twitter.com/BiIndia/status/1257988686739673088">According to Kiran Mazumdar Shaw</a>, the Director, and Founder of Biocon, even after the vaccine is approved, India may not be able to produce more than 10-20 million doses in the first year, which is a negligible amount considering India’s population. “There are 26 million children born in India every year, but we still struggle to vaccinate even 70% of them. How can we think that we can overnight go and vaccinate 1.4 billion people?. I don’t think vaccines are a major option for India until 2022,” <a href="https://twitter.com/BiIndia/status/1257988686739673088">Dr Ramanan Laxminarayan, Director CDDEP earlier told Business Insider India</a>. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/coovid-vaccine-from-oxford-serum-institute-and-astrazeneca-shows-promising-immune-response/articleshow/77069321.cms">The COVID-19 vaccine from Oxford and AstraZeneca shows 'promising' results in early human trials</a> <a href="https://www.businessinsider.in/careers/news/from-intel-and-wipro-to-tcs-and-google-here-are-the-top-job-openings-in-the-multinational-companies/articleshow/77058769.cms">From Intel and Wipro to TCS and Google— Here are the top job openings in the multinational companies</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-upcoming-affordable-smartphone-oneplus-nord-launch-price-specifications-features/articleshow/77061620.cms">OnePlus Nord launch price, specs and more – Everything we know about the upcoming affordable OnePlus smartphone</a>

Here's an indicative timeline for the Oxford vaccine — from phase-3 trials to the final supply in the market

<keyword id="242973" type="General" weightage="20" keywordseo="serum-institute" source="Orion">Serum Institute</keyword> of India (SII) plans to launch a COVID vaccine for children in the next six months, the company's CEO <keyword id="383467" type="General" weightage="20" keywordseo="adar-poonawalla" source="Orion">Adar Poonawalla</keyword> said on Tuesday. Participating in an industry conference, Poonawalla said the vaccine '<keyword id="10678894" type="General" weightage="20" keywordseo="covovax" source="Orion">Covovax</keyword>' is under trial and would offer protection to children all the way down till three years. Currently, <keyword id="9617748" type="General" weightage="20" keywordseo="covishield" source="Orion">Covishield</keyword> and other COVID vaccines are approved for people above the age of 18 years. "We haven't seen a lot of severe disease in children. Fortunately, the panic is not there for children. However, we will be launching a vaccine in six months for children, hopefully down to the age of three," Poonawalla said. He noted that already there are two companies in India who are licensed and their vaccines will be available soon. "I think yes, you should take and get your children vaccinated. There is no harm, these vaccines have been proven to be safe and efficacious and all of that. If you feel you want to get your children vaccinated by all means wait for government announcements on that and you go ahead with that. "Our vaccine Covovax will be launched for children in six months," Poonawalla said, adding that Covovax is under trial and has shown excellent data all the way down to the age group of three years. Further, Poonawalla said there was enough data to show that the vaccines will work and protect the children against the infectious disease. He pointed out that so far nothing can be said about the <keyword id="1609796" type="General" weightage="50" keywordseo="omicron" source="Orion">Omicron</keyword> variant as to how it would impact the children. "I don't know what will happen with Omicron but so far the children have not been affected very badly with this (COVID) virus. I think their body, cells and their lungs recover better," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/delhi-reports-four-new-cases-of-omicron-covid-19-variant-says-health-minister/articleshow/88274332.cms">Delhi reports four new cases of Omicron COVID-19 variant, says Health Minister</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/china-reports-first-case-of-omicron-variant-in-the-port-city-of-tianjin-say-media-reports/articleshow/88273319.cms">China reports first case of Omicron variant in the port city of Tianjin, say media reports</a>

Serum Institute to roll out COVID-19 vaccine for children in six months, says CEO Adar Poonawalla

<keyword id="8144461" type="General" weightage="80" keywordseo="biocon-biologics" source="Orion">Biocon Biologics</keyword>, a subsidiary of <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword>, on Thursday said it will offer around 15 per cent stake to <keyword id="12110332" type="General" weightage="20" keywordseo="serum-institute-life-sciences" source="Orion">Serum Institute Life Sciences</keyword> at a post-money valuation of about USD 4.9 billion. Serum Institute Life Sciences (SILS) is a subsidiary of Serum Institute of India (SII). For offering the 15 per cent stake, Biocon Biologics Ltd (BBL) will get committed access to 100 million doses of vaccines per annum for 15 years, primarily from SILS' upcoming vaccine facility in Pune with commercialisation rights of the SILS vaccine portfolio, including <keyword id="9078985" type="General" weightage="20" keywordseo="COVID-19-vaccines" source="Orion">COVID-19 vaccines</keyword>, for the <keyword id="35145" type="General" weightage="20" keywordseo="global-market" source="Orion">global market</keyword>, Biocon said in a regulatory filing. "Pursuant to the terms of the agreement, BBL will generate a committed revenue stream and related margins, commencing H2, FY23. <keyword id="383467" type="General" weightage="20" keywordseo="adar-poonawalla" source="Orion">Adar Poonawalla</keyword> will have a Board seat in Biocon Biologics Limited," it added. In addition to vaccines, the strategic alliance will also develop antibodies targeting several infectious diseases like dengue and HIV. "This alliance will complement the strengths and resources of the two leading players in vaccines and biologics. Our shared vision of building large scale businesses having global impact makes it a unique and synergistic value creation opportunity," Biocon and Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. The two companies will enter Service Level Agreements for manufacturing and distribution of the vaccines and antibodies. "We look forward to complementing each other's capabilities and capacities in vaccines and biologics, with the objective of addressing inequitable access both in emerging and developed markets for life saving vaccines and biologics," Serum Institute of India CEO Adar Poonawalla said. Biocon Biologics will also establish, at its cost, a vaccine R&amp;D division to support the strategic alliance in developing both vaccines and biologics for communicable diseases. Additionally, wherever possible, it will make available its cell culture and sterile fill and finish capacities for vaccine production under the strategic alliance, the filing said. "Biocon Biologics would issue shares and receive the contemplated rights through a merger with Covidshield Technologies Pvt. Ltd, a wholly owned subsidiary of SILS, on customary closing conditions and receipt of regulatory approvals," it added. Shares of Biocon Ltd closed at Rs 376.90 per scrip on BSE, up 5.47 per cent from its previous close. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/biocon-hero-motocorp-tvs-motor-banks-and-other-top-stocks-to-watch-out-for-on-september-17/articleshow/86281250.cms">Biocon, Hero MotoCorp, TVS Motor, banks and other top stocks to watch out for on September 17</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/white-oak-capital-gets-sebi-nod-to-enter-mutual-fund-business/articleshow/86263273.cms">Wealth management firm White Oak Capital gets SEBI’s nod to enter mutual fund business</a>

Biocon Biologics to offer 15% stake to Serum Institute Life Sciences at valuation of $4.9 billion

US-based biotechnology company <keyword id="323030" type="COMPANY" weightage="20" keywordseo="Novavax">Novavax</keyword>'s protein-based vaccine has shown overall 90 per cent efficacy against Covid-19, results of Phase-3 trials have shown. The vaccine NVX-CoV2373 is already being locally manufactured by the company's <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> partner Pune-based <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII) under the brand name Covovax. In the US-based Phase-3 trials, NVX-CoV2373 also demonstrated 100 per cent protection against moderate and severe disease. "Today, Novavax is one step closer to addressing the critical and persistent global public health need for additional Covid-19 vaccines. These clinical results reinforce that NVX-CoV2373 is extremely effective and offers complete protection against both moderate and severe Covid-19 infection," said Stanley C Erck, President and Chief Executive Officer, Novavax, in a statement. "Novavax continues to work with a sense of urgency to complete our regulatory submissions and deliver this vaccine, built on a well understood and proven platform, to a world that is still in great need of vaccines," Erck added. In August 2020, Novavax and SII announced an agreement under which the US biotechnology company had given SII the licence to manufacture and supply the vaccine in low- and middle-income countries. In March 2021, CEO <keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> said Covovax will be launched by September this year. "Covovax trials finally begin in India; the vaccine is made through a partnership with Novavax and Serum Institute of India," said Adar Poonawalla. "Hope to launch by September 2021!" the CEO of the world's biggest Covid-19 vaccine maker said. The US-based Phase-3 trials began in December 2020 and enrolled 29,960 participants across 119 sites in the US and Mexico to evaluate efficacy, safety and immunogenicity, with an emphasis on recruiting a representative population of communities and demographic groups most impacted by the disease. The study "confirms that NVX-CoV2373 offers a reassuring tolerability and safety profile", said Gregory M Glenn, MD, President of Research and Development, Novavax. The company will file for regulatory authorisations in the third quarter. After receiving the approvals, Novavax will reach a manufacturing capacity of 100 million doses per month by the end of the third quarter and 150 million doses per month by the end of the fourth quarter of 2021, the statement said. NVX-CoV2373 was created using Novavax' recombinant nanoparticle technology to generate antigen derived from the coronavirus spike (S) protein and is formulated with Matrix-M adjuvant to enhance the immune response and stimulate high levels of neutralising antibodies. It contains purified protein antigen and can neither replicate, nor can it cause Covid-19. The vaccine can be stored at 2 to 8 degrees Celsius, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials. The two-shot vaccine is also being evaluated in Phase 3 trials in the UK that demonstrated efficacy of 96.4 per cent against the original virus strain, 86.3 per cent against the B117 (Alpha) variant and 89.7 per cent overall. It is also being tested in two ongoing Phase 2 studies that began in August 2020: A Phase 2b trial in South Africa that demonstrated 55 per cent efficacy overall in HIV-negative participants and 48.6 per cent efficacy against the B1351 (Beta) variant, and a Phase 1/2 study in the US and Australia. The company is also conducting trials in adolescents between ages 12 and 18. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-under-sebi-scanner-on-market-manipulation/articleshow/83501698.cms">Gautam Adani loses over $7 billion in net worth after questions over the meteoric rise in group stocks</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/adani-group-pnb-coal-india-tcs-and-other-stocks-to-watch-out-for-on-june-14/slidelist/83499937.cms">Adani group, PNB, Coal India, TCS and other stocks to watch out for on June 14</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/cryptocurrency/news/weekly-crypto-roundup-wazirx-under-scrutiny-el-salvador-makes-bitcoin-legal-tender-and-more/slidelist/83478577.cms">Weekly crypto roundup: WazirX under scrutiny, El Salvador makes Bitcoin legal tender and more</a>

US-based biotechnology company Novavax’s COVID-19 shot is 90% effective

<ul><li>The CEO of the world's largest vaccine maker has been getting much flak from those who think the vaccine prices are too high.</li><li>From defending the policy of charging different prices for different customers, Poonawalla has now take a small step back by reducing the price charged to state governments. </li><li>Business Insider has argued that the price of the vaccine should be the same for everyone otherwise there is a risk that the precious vials may be moved to more lucrative private hospitals, making the poorer sections of the society wait longer. </li></ul>After much backlash for the last set of pricing announced by <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII), for its <keyword id="9617748" type="COMPANY" weightage="20" keywordseo="covishield">Covishield</keyword> vaccine, Chief Executive Officer <keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> today annnounced that the world's largest vaccine maker would give the state governments a ₹100 discount on every dose. In a tweet, Poonawalla called this cut a "philanthropic gesture" that will save crores of rupees of state funds and save countless lives. That's a sharp departure from his stand just a few days ago. <div type="twitter" handle="adarpoonawalla" handlename="Adar Poonawalla" image="http://pbs.twimg.com/profile_images/1302181254746509313/Kn1fTCv6_normal.jpg" favoritecount="17114" retweetcount="4403" status="As a philanthropic gesture on behalf of @SerumInstIndia, I hereby reduce the price to the states from Rs.400 to Rs.… https://t.co/kHmxPnv4K7" createdat="1619611993000" id="1387379373452390409"></div> These are the prices fixed by Serum Institute of India (SII) for the Covishield vaccine: <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">If the vaccine is sold to… </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price per dose </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central government </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹150 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State government </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹300 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Private hospitals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹600 </td></tr></tbody></table>*The earlier price announced for state governments was ₹400 a dose. On April 24, Poonawalla's company was defending the prices announced by the company earlier. "We have to ensure sustainability as we must be able to invest in scaling up and expanding our capacity to fight the pandemic and save lives," said a statement from SII. However, now the company has decided to cut the prices but the debate is far from over. Many people argue that it should be free for all. And many state governments like those Delhi, Bihar, Uttar Pradesh, Goa, West Bengal, Tamil Nadu, Andhra Pradesh, and many others, have already said that the state will bear the cost of vaccination. Business Insider has argued, earlier, that <a href="https://www.businessinsider.in/politics/policy/article/if-the-covid-19-vaccine-prices-are-too-high-for-some-then-why-not-use-direct-benefit-transfer/articleshow/82200370.cms" data-type="tilCustomLink" target="_blank">the price of the vaccine should be the same for everyone</a> otherwise there is a risk that the precious vials may be moved to more lucrative private hospitals, making the poorer sections of the society wait longer. A petition filed in the High Court of Kerala has also argued that the three-tier pricing is a violation of a citizen's 'right to health'. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-needs-tariff-hikes-to-sustain-earnings-growth-as-subscriber-additions-slow-down/articleshow/82289799.cms">Look for this number in Reliance Jio’s earnings⁠ — it will tell you if the tariff will rise</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/cowin-website-is-back-up-after-an-early-crash-finding-a-vaccination-slot-may-still-be-difficult/articleshow/82291583.cms">CoWIN website is back up after an early crash⁠ — finding a vaccination slot may still be difficult</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/checkout-zomato-top-executives-salaries-including-co-founder-and-ceo-deepinder-goyal/slidelist/82289352.cms">From Deepinder Goyal to Zomato’s top executives – here’s how much they earn</a>

Adar Poonawalla's Serum cuts Covishield vaccine price for state governments to ₹300 a dose after much backlash

<ul><li>Whether it is the production linked incentive or the waiver of duty on <keyword id="8775508" type="PERSON" weightage="20" keywordseo="remdesivir">Remdesivir</keyword>, these are steps that could have been taken six years ago.</li><li>In 2015, the Indian government decided to boost the <keyword id="6362048" type="UNKNOWN" weightage="20" keywordseo="manufacturing">manufacturing</keyword> of API, the most important ingredient in a drug, but the policy remained on paper and as a catchphrase on headlines.</li><li>In fact, since 2015, the year when the government resolved to promote the manufacture of bulk drugs in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, the imports have only gone up.</li></ul>Catchphrases don’t cure, actual drugs do. In 2021, everyone from the mighty <keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword> (SII), the world’s largest vaccine maker, to the whole host of companies that make Remdesivir are scrambling for inputs while the COVID-19 pandemic ravages through a densely populated country with a lot of poor people and inadequate health facilities. However, six years ago, the same government had <a href="http://www.pharmabiz.com/PrintArticle.aspx?aid=86857&amp;sid=1">celebrated ‘the year of API’</a>. The acronym stands for active <keyword id="6469017" type="UNKNOWN" weightage="20" keywordseo="pharmaceutical">pharmaceutical</keyword> ingredients⁠ or simply put, key inputs needed to make a particular medicine. The event was possibly a hit, the tagline was well promoted, but nothing happened after that. In fact, since 2015, the year when the government resolved to promote the manufacture of bulk drugs in India, the imports have only gone up. <div type="image" title="api imports data." msid="82190922" hostid="261"></div> The idea was to encourage local manufacturing of APIs on a bigger scale but after six years of stated intent, India is still dependent on China for nearly 70% of its API, also called bulk drugs, needs. Now, more than a year into the pandemic, drug makers and vaccine makers in India⁠ — which proudly carries the tag ‘pharmacy of the world’ ⁠— are pleading for access to key raw material. The list includes <keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword>, the chief executive officer (CEO) of SII, who urged the United States on April 16 to allow export of key inputs needed to make the COVID-19 vaccine. <div type="twitter" handle="adarpoonawalla" handlename="Adar Poonawalla" image="http://pbs.twimg.com/profile_images/1302181254746509313/Kn1fTCv6_normal.jpg" favoritecount="103657" retweetcount="26309" status="Respected @POTUS, if we are to truly unite in beating this virus, on behalf of the vaccine industry outside the U.S… https://t.co/MsnowghtBQ" createdat="1618562794000" id="1382978713302683653"></div>There are many factors why API manufacturing hasn’t picked pace in India. The following are the reasons cited by consulting firm PwC. <ul><li>stricter implementation of pollution control norms, leading to higher costs of manufacturing APIs in India issues in interpretation of the Drug Price Control Order (DPCO), 2013</li><li>no financial incentives like lower tax, cheaper utilities and land subsidy to lower capex requirement</li><li>lack of large-scale mega parks to manufacture bulk drugs -- collapse of the fermentation industry in India.</li></ul>Before 1991, India was dependent on China only to the extent of 0.3% of its bulk drug needs. Today, 70% of it comes from China. <div type="image" title="India API imports." msid="82190944" hostid="261"></div> The chaos around Remdesivir is one of the examples of how slow the policy wheel moves in India, no matter who is in charge of government. The demand for Remdesivir has been off the charts for a while, for a variety of reasons. The manufacturing process has been stalled by the lack of APIs but the government did not waive off the customs duty on this crucial import, until April 20, about a year after the drug has been allowed to be used as a last resort for COVID-19 patients. Of course, the government <a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1671912">has approved a ₹6,940 crore production-linked incentive scheme</a> to boost the manufacturing of APIs too, among other pharmaceutical products. The policy was announced as part of the Aatmanirbhar Bharat (self-reliant India) programme, at the peak of the pandemic. If the same measures had been announced earlier in 2015, when we were celebrating the year of the API, at least a few deaths and some anxiety could have been avoided. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/apple-privacy-oriented-ios-14-5-update-can-impact-on-facebook-ad-revenue/articleshow/82176041.cms">Apple will roll out the privacy-oriented iOS 14.5 update next week that has Facebook worried</a> <a href="https://www.businessinsider.in/tech/news/netflix-co-founder-talks-about-pricing-experiments-in-india-and-partnership-with-jio/articleshow/82175848.cms">Netflix co-founder Reed Hastings says India is a 'speculative' investment – talks about pricing experiments and partnership with Jio</a> <a href="https://www.businessinsider.in/tech/news/all-the-first-time-from-apple-announcements-from-its-spring-loaded-event/articleshow/82174522.cms">All the 'first-time from Apple' announcements from its Spring Loaded Event</a> <a href="https://www.businessinsider.in/business/startups/news/cryptocurrency-firm-coinbase-hires-former-google-pay-exec-to-lead-india-operations/articleshow/82174729.cms">Coinbase hires former Google Pay exec to lead India ops, is hiring aggressively and looking for startup acquisitions</a>

If 2015 was the ‘Year of the API’, why is there a Remdesivir shortage six years later?

<keyword id="95879" type="COMPANY" weightage="20" keywordseo="Serum-Institute-of-India">Serum Institute of India</keyword>, the <keyword id="6354507" type="UNKNOWN" weightage="20" keywordseo="World">world</keyword>'s biggest <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> vaccine maker, is hopeful to launch <keyword id="10678894" type="UNKNOWN" weightage="20" keywordseo="covovax">Covovax</keyword> by September this year, CEO <keyword id="383467" type="PERSON" weightage="20" keywordseo="Adar-Poonawalla">Adar Poonawalla</keyword> announced on Saturday. "Covovax trials finally begin in India; the vaccine is made through a partnership with <keyword id="323030" type="COMPANY" weightage="20" keywordseo="Novavax">Novavax</keyword> and Serum Institute of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>," said Adar Poonawalla. He further said that it has been tested against African and UK variants of Covid-19 and has an overall efficacy of 89 per cent. "Hope to launch by September 2021!" the CEO of world's biggest Covid-19 vaccine maker said. Covovax is the protein-based Covid-19 vaccine developed by Novavax, headquartered in the US. In August 2020, the two companies announced an agreement under which Novavax had given SII the licence to manufacture and supply the vaccine in low- and middle-income countries. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/asteroid-apophis-wont-be-hitting-earth-for-at-least-another-century/articleshow/81719171.cms">‘God of Chaos’ asteroid Apophis won’t be crashing into Earth for at least another century</a> <a href="https://www.businessinsider.in/science/health/news/making-vaccines-available-to-indians-may-not-be-enough-it-depends-on-how-judiciously-we-employ-them/articleshow/81720507.cms">Making vaccines available to Indians may not be enough, it depends on how judiciously we employ them</a> <a href="https://www.businessinsider.in/policy/news/government-mandates-companies-to-disclose-cryptocurrency-holdings-from-april-1/articleshow/81704174.cms">Indian companies will have to disclose cryptocurrency holdings from April 1 – industry insiders welcome decision</a>

Serum Institute's second COVID-19 vaccine 'Covavax' likely to be launched in September

Vaccine maker Serum Institute of India's <keyword id="9625152" type="UNKNOWN" weightage="20" keywordseo="ceo-adar-poonawalla">CEO Adar Poonawalla</keyword> on Thursday said the Oxford COVID-19 vaccine should be available for <keyword id="893440" type="PERSON" weightage="20" keywordseo="healthcare-workers">healthcare workers</keyword> and <keyword id="56756" type="PERSON" weightage="20" keywordseo="Elderly-people">elderly people</keyword> by around February 2021 and by April for the general public, and will be priced at a maximum of Rs 1,000 for two necessary doses for the public, depending on the final trial results and regulatory approvals. Probably by 2024, every Indian will get vaccinated, he said at the Hindustan Times Leadership Summit (HTLS), 2020. "It will probably take two or three years for every Indian to get inoculated, not just because of the supply constraints but because you need the budget, the vaccine, logistics, infrastructure and then, people should be willing to take the vaccine. So these are the factors that lead up to being able to vaccinate 80-90 per cent of the population. "It will be 2024 for everybody, if willing to take a two-dose vaccine, to be vaccinated," Poonawalla said. Asked at what price the public will get it, he said it will be around USD 5-6 per dose with an MRP of around Rs 1,000 for the two necessary doses. "The government of India will be getting it at a far cheaper price at around USD 3-4, because it will be buying in a large volume and get access to the price that is similar to what COVAX has got. We are still pricing it far cheaper and more affordable than other vaccines we have in the market today," Poonawalla said. Asked about the efficacy of the vaccine, he said the Oxford-Astrazeneca vaccine is so far proving to work very well even in elderly people, which was a concern earlier. "It has induced a good T-cell response, which is an indicator for your long-term immunity and antibody response but then again, time will only tell if these vaccines are going to protect you in the long term. Nobody can answer that for any of the vaccines today," Poonawalla said. Responding to a question on the safety aspect, he said there has been no major complaints, reactions or adverse events, adding, "We would need to wait and see. The efficacy and immunogenicity results from the Indian trials will come out in about a month-and-a half." Asked when the SII will apply for an emergency authorisation, Poonawalla said as soon as the UK authorities and the European Medicines Evaluation Agency (EMEA) approve it for emergency use, it will apply to the drug controller for emergency use authorisation in India. "But that will be for a limited use for frontline workers, healthcare workers and elderly people," he added. Children would have to wait a little longer till the safety data is out, but the good news is that COVID-19 is not so bad and serious for them, Poonawalla said. "Unlike measles pneumonia, which is deadly, this disease is seeming to be less of a nuisance for children but then, they can be carriers and can give the infection to others. "We want to vaccinate the elderly people and others who are the most vulnerable first. Once we have enough safety data to go in on children, we can recommend it for children too," he said. Poonawalla said the Oxford vaccine is affordable, safe and stored at a temperature of two to eight degrees Celsius, which is an ideal temperature for it to be stored in the cold storages of India. He said the SII plans to make about 10 crore doses per month from February. As regards how many doses would be provided to India, Poonawalla said talks are still going on and no agreement has been arrived at in this regard. "India wants around 400 million doses by July. I do not know if it will take all from <keyword id="9265406" type="COMPANY" weightage="20" keywordseo="the-serum-institute">the Serum Institute</keyword>. We are gearing up to offer that kind of volume to India and still have a few 100 million to offer to COVAX by July and August. No agreement so far," he said. Poonawala said the SII is not entering into any agreement with other countries at this moment as India is its priority. "We have not signed and committed anything else beyond Bangladesh at the moment. We really do not want to partner right now with many countries because we will not have enough stocks to deliver. "We want to handle India as a priority first and manage Africa at the same time and then help out other countries," he said. Poonawalla said 30-40 crore doses of the Oxford vaccine will be available by the first quarter of 2021. In another session of the summit, AIIMS Director Dr Randeep Guleria said there is some talk going on between Pfizer and the Indian government but not much with Moderna. "It is going to be a huge challenge as far as the Pfizer vaccine is concerned, considering that it needs a cold chain of minus 70 degrees Celsius," he said and pinned hoped on the vaccines that are at various stages of trial in India. On the availability of a COVID-19 vaccine, Guleria said the percentage of population to be inoculated will depend on the number of vaccines getting the regulatory approvals and the number of shots they are producing. He further said the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> goes into the lungs without making a person symptomatic. "We have individuals who are asymptomatic and you can see patches in their lungs at CT scans directly. It really bypasses a person's defence mechanism, which means that you not only have the virus in your nose or throat, but it has gone right into your lungs. A virus which can do that is something we have to be wary of," Guleria said. PLB/UZM RC

You Searched For "sii adar poonawalla" and got 11 results

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Adar Poonawalla's Serum cuts Covishield vaccine price for state governments to ₹300 a dose after much backlash

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