13-April-2021
Corporate News
 
Need Rs 3,000-cr grant to boost vaccine capacity beyond 100mn per month: SII’s Poonawalla
07-Apr-2021

The world’s largest vaccine maker, Serum Institute of India (SII), has sought Rs 3,000 crore grant from the government to ramp up capacity of the Covishield Covid-19 vaccine beyond 100 million doses a month that it will reach by the end of May. Serum’s output is around 65-70 million doses a month right now. While SII CEO Adar Poonawalla told CNBC-TV18 that he would have to look at other sources of funds – bank loans and advances against supplies – if the government wasn’t able to give a grant, he added that the money was needed to not just replace the capex made but also to divert existing capacity from other vaccine commitments. In the short run, there was no other way to ramp up capacity to the levels required, he said.

News Source:- https://www.financialexpress.com/lifestyle/health/serum-institute-of-india-ceo-adar-poonawalla-says-rs-3000-crore-required-to-ramp-up-vaccine-production/2228217/