Serum institute of India, the world’s biggest vaccine maker, is considering setting up its first manufacturing plant in Africa as it looks to expand globally after its success in selling COVID-19 shots, its CEO told Reuters on Monday.
Africa was the only continent that did not have its own manufacturing capacity for COVID shots during the worst phases of the pandemic in the last two years, leaving it at the mercy of suppliers from overseas, including the SII.
“It’s never been a better time to be a vaccine manufacturer. I’m looking at expanding our manufacturing across the globe,” SII Chief Executive Adar Poonawalla said during an interview at the World Economic Forum in Davos.
There are some great countries out there: South Africa, Rwanda, you know, to name a few that we’re looking at.”
Poonawalla said he was meeting some African officials in Davos to discuss his plans. Asked about possible investments, he said such projects typically required at least around $300 million.
