Davos, Switzerland: The world’s largest vaccine maker Serum Institute of India (SII) is looking to set up its first manufacturing plant in Africa as it expands globally following its success in selling COVID-19 shots. wants to do so, its CEO told Reuters. monday.
Africa was the only continent that did not have its own manufacturing capacity for COVID shots during the worst phases of the pandemic over the past two years, leaving it at the mercy of suppliers from overseas, including SII.
“It’s never been a better time to be a vaccine manufacturer. I look forward to expanding my manufacturing worldwide,” said the CEO of SII. 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 is meeting some African officials in Davos to discuss his plans. Asked about the potential investment, he said such projects usually require at least $300 million.
He did not specify what products an African plant could make. In addition to COVID shots, siiIndian plants make vaccines for diphtheria, BCG, measles, rubella, and other conditions.
Asked about the concern over the rising cases of monkeypox, Poonawalla said that he does not believe that the disease is so contagious.
“We’ll wait and see if we want to make a vaccine for it,” he said.
monkeypox It is usually mild and is endemic to parts of West and Central Africa. The World Health Organization has said it hopes to identify more cases as it expands surveillance to countries where the disease is not commonly found.
On COVID, SII has sold over 1.5 billion doses of the AstraZeneca shot in India and brands Covisshield, exporting millions more.
But as the demand has subsided now, the company is keeping its Indian Covishield facilities on standby and “will not produce anything there”, Poonawalla said, adding that it can be restarted if need be.
SII has also put on hold plans to produce and sell about 300 million doses of Russia’s Sputnik Lite 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 that the privately held SII is now valued at about $20 billion, but he said there are no immediate plans to go public.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.