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Government has permitted the export of 7 crore doses of the Covovax COVID-19 vaccine produced by Serum Institute of India (SII) and developed by Novavax to Australia, Netherlands and New Zealand. ....
COVID-19 vaccine: Serum Institute seeks indemnity against liabilities This development comes a day after reports suggested that the Centre is leaning towards granting indemnity to foreign vaccine makers including Pfizer and Moderna BusinessToday.In | June 3, 2021 | Updated 09:26 IST Serum Institute seeks indemnity Serum Institute of India whose, Covishield vaccine is currently being administered to citizens under India s vaccination programme, has sought indemnity against liabilities. This development comes a day after reports suggested that the Centre is leaning towards granting indemnity to foreign vaccine makers including Pfizer and Moderna. According to a report by ANI, the Adar Poonawalla-helmed vaccine giant is seeking indemnity from the Centre. Sources told the news agency that if foreign vaccine makers are getting indemnity, then all Indian vaccine makers should get indemnity against liabilities. ....
How profitable is Adar Poonawalla s Serum Institute? At Rs 300, the expected earnings from, let s say, 500 million doses of Covishield stand at about Rs 15,000 crore, which is near three times the total revenue of Serum Institute in FY20 Adar Poonawalla poses with first consignment of Covishield (Photo credit: Twitter) Vaccine-maker Serum Institute of India has become a household name as Indians scramble to book vaccine slots amid a devastating second wave of coronavirus. While Serum is one of the world s biggest vaccine manufacturers, its name made it to common parlance with the breakout of COVID-19 and there is proof to show for it. According to corporate database Capitaline there are 418 Indian companies that posted revenues above Rs 5,000 crore in 2019-20. Out of those, Serum earned the maximum net profit for every rupee of revenue. ....