Serum’s Institute (SII) To Invest £240 million IN UK as a Part of India-UK partnership

As a part of  India-UK, an enhanced trade partnership held virtually between Prime Minister Narendra Modi and Prime Minister Borris Johnson. The Indian companies will invest £1 billion for creating 6500 jobs in the UK. In this deal, the Serum’s Institute of India invested the highest. Hence, amounting to £240 million.

Whereas £3 million investment would be done by companies – Infosys, Wipro, Mphasis, and Goila Butter Chicken. Hence, creating 40 jobs in the U.K.

Also Global Gene Corp, a biotech firm, to invest £59 million for the next 5years.

The main motto of SII investment is to provide the firms’ vaccine business in the UK. Mainly to manufacture vaccines, support clinical trials, research and development. Along with the new sales office expected to generate business around $1 billion.

The SII is manufacturing covovax as a second vaccine after covishield.

The SII already started phase one trials in the UK. As a part of the nasal vaccine against coronavirus.

For the phase two trial of covovax the data of 200 participants has been reviewed by the Data safety monitoring board.

“The third phase trial should start by mid-may,” says Dr. Abhijit Kadam, Investigator from ICMR – National Aids Research Institute of the trial.

Thus, the third phase trial by Serum Institute of India of covid-19 vaccine covovax will be started soon. Also, partnered up with American company Nova’s.

Serum’s Production Of Vaccine:

The previous week, the CEO of SII Adar Poonwalla assures that the company monthly output by end of July will raise to 100million doses. Thus, the production of covishield vaccine is ongoing at a high speed. In an interview, the CEO gave the hope to increase the SI’s production capacity within 6 months. Initially from 2.5 billion to 3 billion doses a year.

Do read: India may see the third wave of Covid-19: AIIMS Chief Randeep Gularia