India’s ‘vaccine king’ bets big on Oxford University coronavirus treatment
- Serum, the world’s largest vaccine maker, will produce 40 million units of a vaccine currently on trial – without knowing if it works
- The company is helmed by billionaire Cyrus Poonawalla and run by his 39-year-old son Adar, a self-proclaimed risk taker
Chairman Cyrus Poonawalla has a net worth of US$10.6 billion and is known as India’s “vaccine king”. Under his leadership, Serum hopes to produce 40 million doses of the vaccine by September – the same deadline by which Oxford is aiming to complete human trials of the ChAdOX1 vaccine.
Poonawalla has been at the centre of Serum’s decision to inject more money into producing the vaccine. It has so far recalibrated its sprawling facility in the western Indian city of Pune for its coronavirus-related efforts, and plans to set up a dedicated plant for the vaccine.
His 39-year-old son Adar, the CEO of Serum, has hinted to local media that the company would not patent any Covid-19 vaccine and would keep it affordable.
“At great personal cost and risk, we are starting manufacturing right away to ensure there is no shortage once the trials are done and the vaccine can reach a wide number of people ASAP,” Adar tweeted last week.