Serum Institute Expands Production to Meet Rising Vaccine Demand, Says Report

Serum Institute of India is planning to increase its production capacity as sales figures are expected to rise in the next five years
Adar Poonawalla, CEO of Serum Institute
Adar Poonawalla, CEO of Serum Institute

The Serum Institute of India Pvt. is planning to increase its production capacity as vaccine sales figures are expected to witness an uptick, including those for malaria and cervical cancer, over the next five years.

According to a report by Bloomberg, the world's largest vaccine manufacturer based in Pune currently has the capacity to produce 3 billion doses of vaccines annually. However, it presently sells around 1.5 billion doses each year.

Adar Poonawalla, CEO, Serum Institute of India, said in an interview, “As countries increase their health-care budgets, you’re going to see a huge uptake of vaccines that can prevent a lot of diseases”

“Vaccines have been proven to be the most efficient tool for prevention,” he added. He is especially optimistic about the prospects for the company's new malaria and cervical cancer vaccines, which can be produced at a capacity of 100 million doses. Demand for the malaria vaccine is gradually increasing as African nations plan and prepare for its distribution. The company sent the initial shipment of this vaccine, called ‘R21/Matrix-M,’ to Africa in May. According to the company, it is the second malaria vaccine globally authorized for children.

Poonawalla also mentioned that it will take nearly two years for demand to match with supply. 

On the other hand, there is a worldwide shortage of vaccines for human papillomavirus (HPV), which can lead to cervical cancer. Poonawalla stated that the production of HPV vaccines is limited to a handful of manufacturers as it is “very complicated and difficult to make.”

The company will be providing millions of doses of its HPV vaccine, Cervavac, at a reduced price to the Indian government for its universal immunization program. Meanwhile, Poonawalla also plans to market the vaccine internationally.

Related Stories

No stories found.
Outlook Business & Money