Top Vaccine Maker Seeks Growth by Selling Shots to Globetrotters
- Company is working on vaccines for yellow fever, dengue, TDAP
- Serum Institute built its business on low-cost immunizations
Serum spends $150 million to $250 million a year on improving production and conducting research, out of its $850 million to $900 million in annual revenue.
Photographer: Dhiraj Singh/BloombergSerum Institute of India Ltd. became the world’s biggest vaccine maker by producing low-cost inoculations for developing nations that other companies wouldn’t. Now it’s looking to tap the rich world’s need for those shots as well.
Over the next three years, Pune-based Serum plans to start production of yellow fever and dengue shots for European and American travelers to countries where those diseases are endemic, Chief Executive Officer Adar Poonawalla said in an interview. That would add higher-margin products to the company’s growing suite of immunizations, which include a sub-$4 malaria shot that was approved by the World Health Organization this week.
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Top Vaccine Maker Seeks Growth by Selling Shots to Globetrotters