For another consecutive year, Serum Institute registers massive growth and retains the crown!
Dr Cyrus Poonawalla, founder and chairman of vaccines major, Serum Institute of India (SII), has been a busy man in the last few years. He has been the brain behind strategic moves which saw his company march much ahead of its nearest competitors in India. The company has witnessed a huge 71 percent growth rate, recording Rs 3340 as revenue in FY 2013-14 as compared to Rs 2374 crore in FY 2012-13. The fiscal year just gone by saw Serum becoming a part of new partnerships and acquisitions. With fresh vigor, the company is all set to take on global pharma giants with renewed strategies in 2014-15.
The world's 5th largest vaccine manufacturer (by volume) with an installed capacity of over one billion doses of different vaccines, Serum has taken up a major challenge this year to develop a vaccine for dengue. In this regard, Serum has tied up with the University of Mahidol, Thailand.
For the first time, the company has joined hands with Bilthoven Biologicals, Netherlands in an endeavor to support the goal of reaching the Global Polio Eradication Initiative (GPEI) Endgame Strategic Plan 2013-2018. This has resulted in triggering a global reduction in price of IPV from the prevailing price available in the market, in a tender bid with UNICEF.
Dr Poonawalla had stated that he was proud to support the IPV program in keeping with his commitment to the World Health Organization, to make available Polio vaccine as affordable as possible. With the R&D efforts that are being put in, he is confident that the price of IPV will further reduce in the future.
Another important activity of Serum was the signing of a contract with Hannover-based Vaccine Project Management, GmbH to acquire rights to the new tuberculosis vaccine. The new vaccine called VPM1002 consists of attenuated pathogens and prompts the human immune system to mount a response against the germ. The special feature of VPM1002 is that it is being continually refined using gene technology, causing it to prevent diseases much more effectively and safely than its predecessor.