Adar Poonawalla's Serum Institute To Invest 240 Million Pounds In UK

WHAT?

The SII is set to invest 240 mn British pounds in the UK. The project would include a sales office, clinical trials, research, and development, and manufacturing.

WHEN?

Monday, 03/05/21

HOW?

Vaccine maker the Serum Institute of India is set to invest in facilities in Britain and could even manufacture inoculations in the UK in the future, Prime Minister Boris Johnson said Monday.

Mr. Johnson's Downing Street office said the 240 million Great British Pounds ($334 million) project would include a sales office, "clinical trials, research and development and possibly manufacturing of vaccines".

The Serum Institute of India (SII) is the world's largest vaccine maker by volume and has been at the forefront of producing the lower-cost AstraZeneca coronavirus shot.

SII has also begun phase one trials in the UK of a one-dose nasal vaccine for coronavirus. 

Downing Street said the vaccine maker's plans were part of a wider package of trade and investment deals with India worth $1 billion that it expects to create over 6,500 jobs.