Serum Institute of India
Encyclopedia
Serum Institute of India is a manufacturer of Immunobiological including vaccine
s in India
. The company is managed by the Poonawalla group- fully owned by Cyrus Poonawalla. The company is the fifth biggest vaccinemaker by volume, the top four being GlaxoSmithKline
, Sanofi-Aventis
, Merck
and Novartis
. Half the children in the world are immunized by vaccines made by the company, which is the world's biggest maker of measles and DTP vaccines. Serum produces a billion doses a year selling in 140 countries. It is one of the world's lowest cost producers of vaccines and had sales of $250 million and net profits of $107 million.
The Serum Institute of India was founded by Cyrus Poonawalla and his brother Zavary in 1966. Poonawalla sold horses to raise the initial $12,000 needed to start the company. Using the money and a 12 acres (48,562.3 m²) lot used to bury horses, the brothers founded the company. Because they had no science background, they hired 10 doctors and scientists from the Haffkine Institute of India. After a number of legal hurdles, the company finally received permission to produce vaccines. Sales finally began picking up when the company won contracts to supply state governments and hospitals. Today, 80% of Serum's sales are to groups Unicef and the Pan-American Health Organization as well as immunization programs e.g. of the charity for children's welfare in India, Germany, the majority of which are from developing markets. Serum became accredited by the World Health Organization
in 1994, after which it began exporting vaccines from India. The company plans to enter to the western markets soon, in order to boost its revenue, through a partnership with American firm Akorn. Last year, the firm paid $22 million for a stake in Lipoxen, a U.K. biopharma firm.
Company has also Developed Intra-nasal Swine flu
vaccine which was launched in market in July 2010.ehttp://www.technologyreview.in/biomedicine/25707/
Vaccine
A vaccine is a biological preparation that improves immunity to a particular disease. A vaccine typically contains an agent that resembles a disease-causing microorganism, and is often made from weakened or killed forms of the microbe or its toxins...
s in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
. The company is managed by the Poonawalla group- fully owned by Cyrus Poonawalla. The company is the fifth biggest vaccinemaker by volume, the top four being GlaxoSmithKline
GlaxoSmithKline
GlaxoSmithKline plc is a global pharmaceutical, biologics, vaccines and consumer healthcare company headquartered in London, United Kingdom...
, Sanofi-Aventis
Sanofi-Aventis
Sanofi S.A. is a multinational pharmaceutical company headquartered in Paris, France, the world's fourth-largest by prescription sales. Sanofi engages in the research and development, manufacturing and marketing of pharmaceutical products for sale principally in the prescription market, but the...
, Merck
Merck & Co.
Merck & Co., Inc. , also known as Merck Sharp & Dohme or MSD outside the United States and Canada, is one of the largest pharmaceutical companies in the world. The Merck headquarters is located in Whitehouse Station, New Jersey, an unincorporated area in Readington Township...
and Novartis
Novartis
Novartis International AG is a multinational pharmaceutical company based in Basel, Switzerland, ranking number three in sales among the world-wide industry...
. Half the children in the world are immunized by vaccines made by the company, which is the world's biggest maker of measles and DTP vaccines. Serum produces a billion doses a year selling in 140 countries. It is one of the world's lowest cost producers of vaccines and had sales of $250 million and net profits of $107 million.
The Serum Institute of India was founded by Cyrus Poonawalla and his brother Zavary in 1966. Poonawalla sold horses to raise the initial $12,000 needed to start the company. Using the money and a 12 acres (48,562.3 m²) lot used to bury horses, the brothers founded the company. Because they had no science background, they hired 10 doctors and scientists from the Haffkine Institute of India. After a number of legal hurdles, the company finally received permission to produce vaccines. Sales finally began picking up when the company won contracts to supply state governments and hospitals. Today, 80% of Serum's sales are to groups Unicef and the Pan-American Health Organization as well as immunization programs e.g. of the charity for children's welfare in India, Germany, the majority of which are from developing markets. Serum became accredited by the World Health Organization
World Health Organization
The World Health Organization is a specialized agency of the United Nations that acts as a coordinating authority on international public health. Established on 7 April 1948, with headquarters in Geneva, Switzerland, the agency inherited the mandate and resources of its predecessor, the Health...
in 1994, after which it began exporting vaccines from India. The company plans to enter to the western markets soon, in order to boost its revenue, through a partnership with American firm Akorn. Last year, the firm paid $22 million for a stake in Lipoxen, a U.K. biopharma firm.
Company has also Developed Intra-nasal Swine flu
Swine flu
Swine influenza, also called pig influenza, swine flu, hog flu and pig flu, is an infection by any one of several types of swine influenza virus. Swine influenza virus or S-OIV is any strain of the influenza family of viruses that is endemic in pigs...
vaccine which was launched in market in July 2010.ehttp://www.technologyreview.in/biomedicine/25707/