Indian Vaccine Giant Serum Institute Eyes Global Expansion, Mulls Setting Up Its First Manufacturing Plant In Africa
In a bid to expand its presence across the globe, Indian vaccine giant Serum Institute of India (SII) is mulling over setting up a manufacturing plant in Africa.
SII, the world's largest maker of vaccines, is reportedly considering the move as the company looks to expand globally.
"It's never been a better time to be a vaccine manufacturer. I'm looking at expanding our manufacturing across the globe," SII CEO Adar Poonawalla said during an interview at the World Economic Forum in Davos, reports Economic Times.
"There are some great countries out there: South Africa, Rwanda, you know, to name a few that we're looking at," he added.
The Serum CEO is reportedly meeting with some African officials in Davos to discuss the plans for possible investment in the continent.
It should be noted that Africa was the only continent that did not have its own manufacturing capacity for COVID shots during the Covid-19 pandemic. The continent was dependent on supplier from overseas, including the SII.
The company is expected to invest over $300 million for setting up the manufacturing facility in Africa.
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