The Serum Institute of India SII, the world's biggest vaccine maker, is planning to set up its first manufacturing plant in Africa as it looks to expand globally after its success in selling COVID 19 shots, its CEO told Reuters on Monday.
Africa was the only continent that did not have its own manufacturing capacity for COVID shots during the worst phases of the epidemic in the last two years, leaving it at the mercy of suppliers from overseas, including the SII.
It's never been better to be a vaccine manufacturer. SII Chief Executive Adar Poonawalla said during an interview with the World Economic Forum in Davos that they are looking at expanding their manufacturing across the globe.
There are some great countries out there: South Africa, Rwanda, to name a few that we're looking at. Poonawalla said he was meeting some African officials in Davos to discuss his plans. He said that such projects typically required around $300 million.
He did not say what products an African plant might make. In addition to COVID shots, the Indian plants of SII make vaccines for diphtheria, BCG, measles, rubella and other conditions.
Poonawalla said he believed the disease was not so infectious, despite concerns over the rise of monkeypox cases.
He said we'll wait and see if we want to make a vaccine for it.
Monkeypox is usually mild and is endemic in parts of western and central Africa. The World Health Organization said it expects to identify more cases as it expands surveillance in countries where the disease is not typically found.
The SII has sold more than 1.5 billion doses of the AstraZeneca shot it makes and brands Covishield in India, and exported millions more.
The Indian Covishield facilities are on standby and will not produce anything there, while the company could resume output if needed, according to Poonawalla, who said the company has now waned as demand has waned.
The plan to produce and sell 300 million doses of Russia's Sputnik Light COVID vaccine has been pulled off by the SII. Poonawalla said that it is still making millions of doses of a version of the Novavax COVID shot for India and other countries.
He estimated that SII was now valued at around $20 billion, but he said there was no immediate plan to go public.