Serum Institute of India To Invest Over ₹2458 Crores In UK To Expand Vaccine Business

London, May 5, 2021 – Vaccine Maker Serum Institute of India is all set to invest in facilities in the United Kingdom. In fact, as the information that is coming in, they also might manufacture vaccines over there. This is a development that has taken place after the virtual meet between Prime Minister Narendra Modi and UK Prime Minister Boris Johnson over bilateral trade.

Serum Institute of India set to invest over rupees 2458 crore in the UK to expand its vaccine business. The Indian vaccine maker will set up a new sales office in the United Kingdom, which will create several jobs for the English. It is expected to generate new business worth over $1 billion. Serum’s investment will support clinical trials, research, development, and possibly manufacturing of vaccines.

The investment is part of the new UK-India trade with 1 billion pounds which will create 6500 jobs in Britain. The new enhanced trade partnership will be unveiled by Prime Minister Modi and Prime Minister Johnson which will address several trade barriers. The partnership will lift restrictions on the export of British fruit and medical devices to India and enable the recognition of UK higher education qualifications.

Adar Poonawala’s company is among the list of nearly 20 Indian companies across sectors such as healthcare, biotech, and software services to announce significant investment plans in the United Kingdom. SII has already started phase one trials in the UK of a one-dose nasal vaccine for the Coronavirus in partnership with Codagenix Inc. Meanwhile, Downing Street has also squarely stressed the importance of India towards future economic plans.

Images Source – Seruminstitute.com