Serum Institute of India CEO Bets He Can Still End COVID-19 Globally

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The world's largest vaccine manufacturer stumbled in 2021. Its CEO bets he can still help end COVID-19

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and GAVI, the Vaccine Alliance, to ensure equitable vaccine distribution—made the Serum Institute the backbone of its efforts based on its CEO’s guarantee that it would produce 1.1 billion doses for export in 2021.

SII’s stumble in 2021 is one reason for the woefully unequal global distribution of vaccines. But it’s also the case that wealthy parts of the world, like the U.S. and the E.U., have prioritized their own populations—administeringwidely while fewer than 3.5% of people in low-income countries have received their first vaccine dose.

Before the pandemic, SII was little known, even in India, though it was praised for its steady work making cheap vaccines to fight childhood diseases. Its meningococcal and meningitis shot sells for less than $1, compared with more than $100 for a meningococcal vaccine in the U.S. The first gamble, in March 2020, was to leverage his relationships to strike a deal to manufacture thefor low- and middle-income countries. His family sank $250 million into the venture. The Bill and Melinda Gates Foundation invested an additional $300 million. By selling advance orders to countries including Bangladesh and Morocco, SII secured $250 million more. By the time the vaccine was authorized for use by the U.K.

By early May, the Serum Institute had delivered about 30 million doses to the COVAX facility—less than 3% of the promised number. But it wasn’t long before Poonawalla got his second chance. By mid-June, he returned to India and re-established day-to-day oversight of SII.

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AbhishyantPK SII, one of over 250 companies beneficiary of IP and technology transfer (Oxford AZ & Novavax). IP waiver proposed by India/SA would have done nothing to speed up SII's vaccines output nor would it have helped vax equity.

AbhishyantPK Interesting to tot up total support SII invested: $250M and received $300M BMGF, AMC $250, payment from COVAX?, $400 Indian govt. Clearly ramping up manufacturing is not as easy as some would like to make out.

BS

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