Serum Institute of India (SII) is expanding its vaccine business in the United Kingdom with investment of £240 million. No details have been disclosed, but SII CEO Adar Poonawalla, currently in the UK, had tweeted in May about having had an “excellent meeting with all partners and stakeholders in the UK”.
“Serum’s investment will support clinical trials, research & development and possibly manufacturing of vaccines. This will help the UK and the world to defeat the coronavirus pandemic and other deadly diseases. Serum have already started phase one trials in the UK of a one-dose nasal vaccine for coronavirus, in partnership with Codagenix INC,” a British government release said.
British Prime Minister Boris Johnson’s office made the announcement, which was part of the £533 million of new Indian investment in the UK in growing sectors such as health and technology.
The £240 million investment by SII in the UK will be in the vaccine business and a new sales office, which will create a large number of jobs. According to the government statement, the SII sales office is expected to generate new business worth over $1 billion, £200 million of which will be invested in the UK.
The announcements were made ahead of a virtual meeting between Johnson and Prime Minister Narendra Modi on cooperation between UK and India to enhance trade.
The other Indian companies investing in the UK include MPhasis with £35 million, Q-Rich Creations (£54 million), Wipro (£16 million), I2 Agro (£30 million), Sterlite Technologies (£15 million), Global Gene Corp (£59 million), SNVA Ventures (£10 million), Skillmine (£11 million), CtrlS Data Centers (£10 million), Que Processing Services (£10 million), Cron Systems (£20 million), Route Mobile (£20 million) and Goila Butter Chicken (£3 million).