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India has reported more than 19 million cases since the pandemic started, second only to the United States. There have also been over 200,000 deaths recorded. A total of 150 million vaccine shots have been administered, covering 11.5 percent of India's 1.3 billion population. Serum Institute of India is India's leading biotechnology firm, producing highly advanced life-saving biologicals such as vaccines, antisera, and other medical specialties using cutting-edge genetic and cell-based technologies. Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals
Serum Institute of India Pvt. Ltd. is now the world's largest vaccine manufacturer, with more than 1.5 billion doses manufactured and distributed worldwide.
Know the complete Success story of Serum Institute and get a glance on on how Serum Institute started, its revenue, business model, its role in Covid-19 vaccine development, competitors & more...
Serum Institute - Company Highlights
| Startup Name | Serum Institute of India |
|---|---|
| Headquarters | Hadapsar, Pune, India |
| Industry | Biotechnology, Pharmaceuticals |
| Founder | Cyrus S. Poonawalla |
| Founded | 1966 |
| Current CEO | Adar Poonawalla |
| Subsidiaries | Vakzine Projekt Management GmbH, Bilthoven Biologicals BV |
| Areas Served | Worldwide |
| Website | www.seruminstitute.com |
Serum Institute - Recent News
About Serum Institute and How It Works?
Serum Institute - Name, Logo and Tagline
Serum Institute - Founder and History
Serum Institute - Mission and Vision
Serum Institute - Covid 19 Vaccine Development
Serum Institute - Revenue and Growth
Serum Institute - Investments
Serum Institute - Acquisitions
Serum Institute - Competitors
Serum Institute - Challenges Faced
Serum Institute - Future Plans
Serum Institute - FAQs
Serum Institute of India - Recent News
May 2021 - CEO Adar Poonawalla, who has been in the United Kingdom on an extended stay to avoid alleged threats in India over rising demand for COVID-19 vaccines, has announced that he will return in a few days.
Had an excellent meeting with all our partners & stakeholders in the U.K. Meanwhile, pleased to state that COVISHIELD’s production is in full swing in Pune. I look forward to reviewing operations upon my return in a few days.
— Adar Poonawalla (@adarpoonawalla) May 1, 2021
About Serum Institute of India and How It Works?
Serum Institute of India Pvt. Ltd. is now the world's largest vaccine manufacturer, with more than 1.5 billion doses manufactured and distributed worldwide, including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines.
Serum Institute vaccines are administered to approximately 65 percent of the world's children. The Serum Institute's vaccines are approved by the World Health Organization in Geneva and are used in over 170 countries around the world as part of their national immunization programmes, saving millions of lives.
The Serum Institute of India uses cutting-edge technology to scan its goods for minute particles that are undetectable by the naked eye. The inspection is completely automated, with high resolution CCD cameras and an electronic monitored panel, reducing the margins of human error.
Tetanus antitoxin, snake antivenom, DPT vaccine, and MMR vaccine were among the first drugs manufactured in large quantities by the Serum Institute of India. Vaccines against bacterial and viral infections, combined vaccines, influenza vaccine, and meningococcal vaccine were added to the company's product line.
Alan Joseph
Serum Institute of India - Mission and Vision
Serum Institute's mission is to develop high-quality vaccines and make them affordable to a wide range of countries, allowing them to increase their Health Index. The Serum Institute was founded to ensure that vaccines are no longer a privilege for Indian children.
Serum Institute began supplying high-quality, but affordable vaccines to many countries around the world after achieving this aim. International agencies such as the WHO, PATH, NIH, NVI/RIVM, and CBER/USFDA have collaborated with Serum Institute to produce vaccines against Meningococcal A, H1N1 Influenza, Rotavirus, and other diseases.
Serum Institute of India - Name, Logo and Tagline
Serum Institute of India's tagline says, "Serum - Protection from birth onwards". The company is the world's largest vaccine manufacturer and produces vaccines(including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines) that protect people from birth onwards.
Serum Institute of India - Founder and History
Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals that were in short supply in India and had to be imported at a high cost.
Following that, many life-saving biologicals were produced at reasonable prices and in large quantities, resulting in the country being self-sufficient in Tetanus Anti-toxin and Anti-snake Venom serum, then DTP (Diphtheria, Tetanus, and Pertussis) vaccines, and finally MMR (Measles, Mumps, and Rubella) vaccines.
Vaccines against bacterial and viral infections, combined vaccines, influenza vaccine, and meningococcal vaccine were added to the company's product line. Apart from vaccines, the company also produces antisera, blood plasma, and hormones. The Serum Institute of India's vaccines has been used in international vaccination programs run by the World Health Organization (WHO), UNICEF, and the Pan American Health Organization as of 2014. (PAHO). The Poonawalla Group now runs the Serum Institute of India, which is involved in research, production, and manufacturing.
In 2009, the company started working on a swine flu vaccine that would be administered intranasally. Bilthoven Biologicals, a pharmaceutical firm in the Netherlands, was the company's first foreign purchase in 2012.
The Serum Institute of India developed Rabies Human Monoclonal Antibody (RMAb), also known as Rabishield, with help from Mass Biologics of the University of Massachusetts Medical School in the United States.
By 2020, the company will have developed 1.5 billion vaccine doses each year, making it the world's largest vaccine manufacturer by amount of doses produced. Tuberculosis vaccine Tubervac (BCG), poliomyelitis vaccine Poliovac, and other childhood vaccines are among the products created.
Alan Joseph
Serum Institute of India - Covid 19 Vaccine Development
AstraZeneca, a British-Swedish multinational pharmaceutical firm, has teamed up with Oxford University to grow AZD1222. According to reports, Serum Institute will provide India and other low- and middle-income countries with 100 million (10 crores) vaccine doses.
By the end of 2021, the target had been raised to one billion doses. It's expected to cost about $3 per dose or around 225 dollars. Trials were suspended by DCGI in September 2020 after a volunteer in Oxford became ill after being vaccinated, but were quickly resumed after British regulators agreed. The Serum Institute of India applied for emergency approval for the vaccine produced with AstraZeneca in December 2020, and it was granted a month later. A deal was reached in March 2021 to supply certain doses to the United Kingdom.
The Serum Institute of India has also agreed to produce Novavax's NVX-CoV2373 vaccine for India and other low- and middle-income countries. Codagenix's nasal COVID-19 vaccine CDX-005 will also be manufactured by the company (tradename COVI-VAC)
Vidhi Punamiya
Serum Institute of India - Revenue and Growth
SII's net sales in 2018-19 were Rs 5,238 crore, with an after-tax profit of Rs 2,252 crore. The compounded annual growth rate (CAGR) for revenue was 8.1 percent over five years (2014-2019), while the CAGR for profit after tax was 5.3 percent. In 2019, SII's export earnings accounted for more than two-thirds of its net sales. At the end of 2019, it had total assets of Rs 16,703 crore.
The pharma giant AstraZeneca and the University of Oxford collaborated on the Covid-19 vaccine. Covishield has a 62 percent efficacy rate. The SII has already generated a stock of approximately 5 crore doses. By February, it claims to be able to increase production to 10 crore doses per month.
Serum Institute of India - Investments
| Date | Organization Name | Round | Amount |
|---|---|---|---|
| Jul 23, 2019 | X-Vax Technology | Series A | $56M |
| Oct 5, 2017 | Visterra | Series C | $23.6M |
Serum Institute of India - Acquisitions
| Acquiree Name | About Acquire | Date | Amount |
|---|---|---|---|
| Nanotherapeutics | Privately held specialty biopharmaceutical company with product development, cGMP manufacturing capabilities | Apr 25, 2017 | €72M |
Jeenal Jain
Serum Institute of India - Competitors
Biocon, Panacea Biotec, Bharat Serums, Wockhardt, Biological E, Bharat Biotech, Syngene International, Indian Immunologicals, Premas Biotech, Reliance Life Sciences, and Zydus Cadila are among the other leading competitors in Serum Institute's competitive set.
Cadila Healthcare, India's fifth largest pharmaceutical firm, is working on an indigenous vaccine for the novel coronavirus in addition to producing Covid treatment drugs like remdesivir. Phase-III trials on 26,000 Indian patients have been approved by the government. The vaccine's price has yet to be determined by Cadila.
Ashwini
Serum Institute of India - Challenges Faced
According to Poonawalla, the real challenge in 2020 will be determining if the Covid vaccine will actually function and be effective in humans. It was also difficult to demonstrate its effectiveness and plan a trial in a country where outbreaks are likely to occur, most likely China.
According to the CEO, "Our journey now is looking and has lot of challenges because we are trying to enter the Europe and US markets. We are trying to sensitize the Indian government to take more vaccines and plan and help them in their programmes to fight these life threatening diseases. We have got other challenges from China and other countries where we are offering a red carpet treatment for them to come here, but when we want to go to China, we have got a lot of barriers that we are facing like parting with our technology, we have got to do joint ventures things which are impossible."
Serum Institute of India - Future Plans
As it struggles to fulfil supply obligations, the Serum Institute of India, which manufactures the AstraZeneca Covid-19 vaccine, is considering starting vaccine manufacturing in other countries.
"There's going to be an announcement in the next few days," Adar was quoted.
Poonawalla said the Serum Institute would be able to increase its monthly production to 100 million doses by July, a month later than the previous goal of end-May. Vaccines against Covid-19 have run out in some Indian states.
Within six months, he planned to increase the Serum Institute's capability from 2.5 billion to 3 billion doses per year. He flew to London until Britain imposed an eight-day travel ban on Indians.
Serum Institute of India - FAQs
What does SII do?
Serum Institute of India is India's leading biotechnology firm, producing highly advanced life-saving biologicals such as vaccines, antisera, and other medical specialties using cutting-edge genetic and cell-based technologies.
Who founded SII?
Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals that were in short supply in India and had to be imported at a high cost.
Does SII produce Covid Vaccine?
Yes, SII produces Covid vaccine.
Does SII export Covid vaccine?
Yes, SII exports Covid vaccine out of India.
Author: Sarika Anand
Source : https://startuptalky.com/serum-institute-success-story/
Date : 2021-05-06T15:38:40.000Z