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<ul><li>The 74-year old is the 12th richest person in India with a networth of $9.5 billion. </li><li>According to Forbes, he multiplied his net worth nearly five times in a decade. But his company Serum Institute of India (SII) is known for its affordable vaccines. </li><li>The affordable vaccine strategy has struck the right cord of the company as its annual revenues are at ₹59 billion ($840 million).</li></ul>The story of <keyword id="29334" type="PERSON" weightage="20" keywordseo="Cyrus-Poonawalla">Cyrus Poonawalla</keyword> and how he became a billionaire cuts through luxury cars, horses and vaccines. The 74-year old <a href="https://www.forbes.com/profile/cyrus-poonawalla/">is the 12th richest person in India</a> with a networth of $9.5 billion. According to Forbes, he multiplied his net worth nearly five times in a decade. But his company Serum Institute of India (SII) is known for its affordable vaccines. He founded the Serum Institute of India in 1966, with a capital of $12,000. His idea was to develop vaccines by extracting serum from horses. SII became the world’s largest vaccine maker by of doses produced and sells 1.5 billion doses globally. <div type="Slideshow" msid="72139267" hostid="261" title="Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade" firstImageMsid="72139269" slideCount="4"></div>

Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade

Pune, Jul 7 () Vaccine maker Serum Institute of India (SII) is hoping to develop a COVID-19 vaccine by the year-end as it is focusing on a "good and safe" product and is not in a "rush", the company's CEO Adar Poonawalla said on Tuesday. He was speaking during the launch of 'Compact XL, a compact diagnostics machine by MyLab Discovery Solutions, that will automate lab processes from sample handling to preparing RT-PCR tubes. Replying to a question about the development of the COVID-19 vaccine, Poonawalla said that by the end of 2020, the SII is hoping to have a vaccine. "End of the year, we are hoping to have a vaccine. So we will discuss once of the phase three trials for the product come about. Recently, there was news about another vaccine candidate which was being rushed. We do not want to rush anything. We want to emphasis on safety and efficacy... and once we are confident of good and safe vaccine, we will announce but that is still six months away from now," said Adar. He further said that till the vaccine comes, testing is the key and that is why SII has invested in MyLabs. "If you test, isolate and segregate, we can manage the situation till the good cure or vaccine comes around," said Adar. SII has invested over Rs 100 crore in MyLabs, a Pune-based molecular diagnostics firm. Poonawalla lamented that India is not testing enough and added that Indian test manufacturers including MyLabs are picking up the production capacity. "There is a fear that what will happen if the number of positive patients increases. I would like to say that there is no harm if the number increases as it will help us detect people," he added. Poonawalla also sought permission to allow export of the test kits. "We have enough capacity in manufacturing testing kits. MyLab can produce 2 million kits per week and there is no that much demand in India so allow us to export and we have enough buffer stock for India readily available if there is more outbreak," he said adding they are waiting for the government's blessings. SPK GK MR

Serum Institute of India expects COVID vaccine by year-end

<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

<ul><li>The Indian government is set to role out the second phase of <keyword id="10820295" type="UNKNOWN" weightage="20" keywordseo="covid-19-vaccination-from-march-1">COVID-19 vaccination from March 1</keyword>.</li><li><keyword id="20566" type="COMPANY" weightage="20" keywordseo="senior-citizens">Senior citizens</keyword> above the age of 60 years and those over 45 years old with comorbidities will be eligible for the vaccine. </li><li>The vaccine doses will be given free of cost at government hospitals and will also be available at private clinics, but the price tag for private distribution is yet to be decided.</li></ul>The Indian government announced today that COVID-19 vaccine doses for senior citizens will be available starting March 1. This includes anyone who is above 60 years of age and people above 45 years of age with comorbidities. “The COVID-19 vaccine will be available across 10,000 government facilities and many private hospitals,” said Union Minister Prakash Javadekar during the cabinet briefing. While the vaccine will be given free of cost at government hospitals, the cost of the vaccine at private hospitals is yet to be decided by the Health Ministry. According to Javadekar, the benchmark for this will be decided within the next two to three days after consulting with the vaccine manufacturers. This comes after the first phase of COVID-19 vaccine drive, which was <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccination-in-india-health-ministry-releases-list-of-potential-side-effects/articleshow/80278217.cms">initiated on January 15</a>, has been completed. According to Javadekar, over 1.07 crore people were vaccinated during this time — most of them frontline workers. Among them, around 14 lakh have gotten the second dose as well. As the vaccination reaches out to the masses, the world’s largest vaccine maker Serum Institute of India (SII) has been asked to focus on India’s needs, tweeted its CEO Adar Poonawalla. <div type="twitter" handle="adarpoonawalla" handlename="Adar Poonawalla" image="http://pbs.twimg.com/profile_images/1302181254746509313/Kn1fTCv6_normal.jpg" favoritecount="28398" retweetcount="2609" status="Dear countries &amp; governments, as you await #COVISHIELD supplies, I humbly request you to please be patient,… https://t.co/tQQsGkPtVW" createdat="1613882072000" id="1363346341275967488"></div> Those opting for the COVID-19 vaccine will either receive SII’s Covishield or Bharat Biotech’s Covaxin. The potential, but mild, side effects of the vaccines include headache, fatigue, myalgia (pain in muscle), injection site tenderness, malaise (weakness), pyrexia, chills, arthralgia, and nausea, according to the <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccination-in-india-health-ministry-releases-list-of-potential-side-effects/articleshow/80278217.cms">Health Ministry. </a> SEE ALSO: <a href="https://www.businessinsider.in/news/covid-19-vaccines-in-india-are-at-risk-of-expiring-while-anxious-senior-citizens-wait-for-their-turn/articleshow/81127178.cms">COVID-19 vaccines in India are at risk of expiring while anxious senior citizens wait for their turn</a> <a href="https://www.businessinsider.in/tech/enterprise/news/indian-government-wants-its-it-hardware-industry-to-be-as-globally-successful-as-tcs-hcl-tech-and-infosys-announces-pli-scheme-worth-7250-crore/articleshow/81189588.cms">Indian government wants its IT hardware industry to be as globally successful as TCS, HCL Tech and Infosys — announces PLI scheme worth ₹7,250 crore</a> <a href="https://www.businessinsider.in/stock-market/news/nse-halts-trading-after-data-glitches-stop-nifty50-and-bank-nifty-from-updating/articleshow/81186539.cms">India’s largest stock exchange halts trading after data glitches stop Nifty50 and Bank Nifty from updating</a>

COVID-19 vaccination for senior citizens to start from March 1 in India — will be free at government hospitals

<ul><li>DCGI has approved market authorisation for the COVID-19 vaccine <keyword id="10678894" type="General" weightage="100" keywordseo="covovax" source="Orion">Covovax</keyword> as a heterologous booster dose for adults.</li><li>The DCGI's approval came following recommendations by the <keyword id="3923779" type="General" weightage="50" keywordseo="subject-expert-committee" source="Orion">Subject Expert Committee</keyword> of the Central Drugs Standard Control Organisation (<keyword id="6375144" type="General" weightage="50" keywordseo="cdsco" source="Orion">CDSCO</keyword>).</li></ul>The <keyword id="6386816" type="General" weightage="50" keywordseo="drug-controller-general-of-india" source="Orion">Drug Controller General of India</keyword> (DCGI ) has approved market authorisation to COVID-19 vaccine Covovax as a heterologous booster dose for adults who have been administered two doses of <keyword id="9617748" type="General" weightage="50" keywordseo="covishield" source="Orion">Covishield</keyword> or <keyword id="9485939" type="General" weightage="50" keywordseo="covaxin" source="Orion">Covaxin</keyword>, official sources said on Monday. The DCGI's approval came following recommendation by the Subject Expert Committee of the Central Drugs Standard Control Organisation (CDSCO). Prakash Kumar Singh, Director of Government and Regulatory Affairs at the <keyword id="95879" type="General" weightage="50" keywordseo="serum-institute-of-india" source="Orion">Serum Institute of India</keyword> (<keyword id="52604" type="General" weightage="80" keywordseo="sii" source="Orion">SII</keyword>), had recently written to the DCGI for the approval of Covovax heterologous booster dose for those aged 18 years and above in view of escalating COVID-19 pandemic situation in some countries, an official source had said. "The Subject Expert Committee of the CDSCO on Wednesday deliberated on the issue and had recommended for market authorisation of Covid jab Covovax as a heterologous booster dose for adults who have been administered two doses of Covishield or Covaxin," an official source said. The DCGI had approved Covovax for restricted use in emergency situations in adults on December 28, 2021, in the 12-17 age group on March 9, 2022, and in children aged 7- 11 years on June 28 last year subject to certain conditions. Covovax is manufactured through technology transfer from Novavax. It has been approved by the European Medicines Agency for conditional marketing authorisation. It was granted emergency-use listing by the <keyword id="43588" type="General" weightage="50" keywordseo="world-health-organization" source="Orion">World Health Organization</keyword> (WHO) on December 17, 2021. In August 2020, US-based vaccine maker Novavax Inc. had announced a licence agreement with the SII for the development and commercialization of NVX-CoV2373, its COVID-19 vaccine candidate in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword> and low-and-middle-income countries. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-great-republic-day-sale-2023-best-deals-and-offers-on-tvs/articleshow/96987966.cms">Amazon Great Republic Day Sale 2023 – Best deals and offers on TVs</a> <a href="https://www.businessinsider.in/tech/apps/news/these-audio-setting-tweaks-can-make-music-sound-better-on-spotify/articleshow/96876010.cms">These audio setting tweaks can make music sound better on Spotify</a>

Serum Institute's Covovax gets DCGI approval as a heterologous booster dose

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

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 Vaccine makers" and got 7 results

Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade

Preeti Soni

Serum Institute of India expects COVID vaccine by year-end

PTI

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

IANS

COVID-19 vaccination for senior citizens to start from March 1 in India — will be free at government hospitals

Prabhjote Gill

Serum Institute's Covovax gets DCGI approval as a heterologous booster dose

PTI

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

IANS

COVID-19 vaccine will be priced at ₹1,000 and would be available by February for healthcare workers and elderly people, says Serum CEO Adar Poonawalla

PTI

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