Skip to content
Search

Latest Stories

India's Serum Institute seeks financial help from the government

India's Serum Institute seeks financial help from the government

RESTRICTIONS on exporting its Covid vaccines have left India's Serum Institute needing financial help from the government, its CEO said, with the world's largest jab manufacturer under pressure at home from soaring cases.

Prime minister Narendra Modi's government last month put the brakes on exports of AstraZeneca jabs made by the Serum Institute of India as the nation of 1.3 billion people experienced an alarming new wave of infections.


The pressure has meant production capacity at Serum Institute is 'very stressed, to put it quite frankly', the firm's CEO Adar Poonawalla told NDTV .

"The globe needs this vaccine and we are prioritising the needs of India at the moment and we are still short of being able to supply... to every Indian that needs it."

The company now requires additional funding of Rs 30 billion ($408 million) to ramp up capacity and has asked the government for financial help, he added.

"This was never budgeted or planned initially because we were supposed to export and get the funding from export countries but now that that is not happening, we have to find other innovative ways to build our capacity," Poonawalla said.

Serum Institute, which produces over two million doses of Covishield -- the local name for the AstraZeneca vaccine -- a day, is providing the jab at a subsidised rate of around Rs 150 to India, significantly less than what it charges for exports.

"The price that is set is profitable, however it is not profitable enough to re-invest substantially in building capacity," Poonawalla said.

Serum Institute -- which recorded annual revenues of over $800 million in 2019-20 -- has seen its profile soar since the pandemic, with several countries including Britain, Brazil and South Africa clamouring to buy its vaccine.

The firm has also struck a deal to supply 200 million doses to Covax, a World Health Organization-backed effort to procure and distribute inoculations to poor countries.

The country began vaccinating people aged over 45 last week, aiming to inoculate 300 million people by August. So far it has administered around 87 million shots.

India recorded almost 116,000 new cases in 24 hours on Wednesday (7), with New Delhi and other cities imposing new curbs on movement and public gatherings in response to the spike.

More For You

AP Dhillon

From dropping beats to dropping jaws—AP Dhillon steals the show at Chanel in Paris

AP Dhillon owns the spotlight: From Brown Munde to Chanel’s front row in Paris

From selling out arenas to sitting front row at Chanel’s Paris Fashion Week show, the Punjabi rap superstar is moving in spaces once reserved for fashion’s elite. And he’s doing it with the same effortless swagger that made him a household name across South Asia and now, Europe.

AP Dhillon brings his signature style to Chanel’s front row

Keep ReadingShow less
NHS Greenlights New Daily Pill for Endometriosis Relief

This new pill can be taken at home

iStock

NHS approves new daily pill for endometriosis treatment in the UK

A new daily pill, relugolix-estradiol-norethisterone, designed to treat endometriosis, has been approved for use across England’s NHS. This medication provides a convenient and effective alternative to traditional treatments, offering relief for women suffering from this painful condition.

A Breakthrough in Endometriosis Care

Keep ReadingShow less
budget friendly spring destinations

Lock in affordable trips and avoid inflated prices

iStock

Top 7 budget-friendly spring destinations for 2025

With spring break just around the corner, it's time to lock in affordable trips and avoid inflated prices. Booking three weeks to a month in advance can help secure the best deals. Spring 2025 is shaping up to be a great time for travel, with airfares for international trips down by 3% and hotel rates decreasing by 2%, making it easier than ever to plan a memorable trip without breaking the bank. Here are seven top destinations to explore on a budget this spring.

1. Big Bear, California

Big Bear Lake, CaliforniaiStock

Keep ReadingShow less
slushies

Slushy drinks attract young children with their bright colours and taste

istock

Doctors urge children under 8 to avoid slushies due to glycerol risks

Children’s love for brightly coloured, sweet beverages, such as slushy ice drinks, may come with hidden dangers, according to new research that highlights the risks posed by glycerol, a common ingredient in these products. Doctors are now urging that children under eight should completely avoid slushy drinks that contain glycerol, as they may cause serious health issues, including loss of consciousness and shock.

The call for revised health advice comes in response to a recent study conducted by paediatricians in the UK and Ireland. The research, published in the journal Archives of Disease in Childhood, examined 21 cases of children aged between two and seven who required emergency treatment shortly after drinking glycerol-containing slushies. These cases, all from 2018 to 2024, involved children who became acutely ill within an hour of consuming the drinks.

Keep ReadingShow less
Naomi Watts Cheers as Daughter Kai Makes Debut at Paris Fashion Week

Kai made her runway debut at Paris Fashion Week

Instagram/ naomiwatts

Naomi Watts celebrates as daughter Kai makes stunning runway debut at Paris Fashion Week

Naomi Watts, the acclaimed British-Australian actress, has long been a fixture in Hollywood, known for her captivating performances in films like The Impossible and Mulholland Drive. But this week, it was her 16-year-old daughter, Kai Schreiber, who stole the spotlight. Kai made her runway debut at Paris Fashion Week, walking for the prestigious fashion house Valentino, and Naomi couldn’t have been prouder.

A star-studded debut

Kai’s debut on the Valentino catwalk was nothing short of spectacular. Dressed in a knit snakeskin mini dress with a dramatic feathered collar, the young model exuded confidence and elegance. The ensemble was completed with a beige headband, Havana sunglasses featuring blue lenses, white lace stockings, and matching sandals adorned with a rose strap. The look was bold, sophisticated, and perfectly suited to the high-fashion atmosphere of Paris Fashion Week.

Keep ReadingShow less