Skip to content
Search
Please enter at least 3 characters.

Latest Stories

Serum Institute to invest £50m in Britain's Oxford Biomedica

Serum Institute to invest £50m in Britain's Oxford Biomedica

BRITISH firm Oxford Biomedica on Wednesday (22) said that Serum Institute of India (SII) will invest £50 million ($68m) in the company to help fund the development of a plant that manufactures Covid-19 shots.

Serum - the world's largest vaccine manufacturer by volume - and Oxford Biomedica both produce AstraZeneca's Covid-19 vaccine.


Serum Life Sciences Ltd, a unit of India-based SII, will pick up a 3.9 per cent stake in Oxford Biomedica as part of the deal.

Oxford Biomedica, spun off from Oxford University in 1995, said it would use the funds to develop the fallow area at its Oxbox plant into a manufacturing space expected to come online in mid-2023.

The Oxbox plant currently makes Covid-19 shots, and the new space is expected to include a capacity to produce viral vector-based products including vaccines, Biomedica said.

Shares of the British firm were up 5 per cent on the London Stock Exchange on Wednesday.

Serum's investment comes four months after Oxford Biomedica doubled its sales estimates from the AstraZeneca shot to more than £100m by 2021-end.

A representative for SII did not immediately respond to Reuters' request for a comment.

For Serum, the deal is the second in as many weeks, following its planned purchase of a 15 per cent stake in Indian drugmaker Biocon's biologics unit.

The Oxford-based company said on Wednesday it swung to a profit after its half-yearly revenue more than doubled.

(Reuters)

More For You

Donald Trump

Speaking from the Oval Office on Friday, Trump had said the US has been economically and financially 'ripped off' by several countries, including India. (Photo: Getty Images)

India denies pledge to lower tariffs following Trump’s statement

INDIA has said it has not committed to reducing import duties on US goods, following US president Donald Trump’s claim that New Delhi had agreed to "cut their tariffs way down."

Trump, in the early weeks of his second term, has taken a tough stance on global trade, imposing tariffs on several countries, including India, and accusing trading partners of unfair practices.

Keep ReadingShow less
How Shaye Bhattessa-Sharma Transformed Her Dragons’ Den Setback into Major Success

Shaye Bhattessa-Sharma was the youngest-ever contestant to secure an offer

Youtube/ Dragons' Den

How did Shaye Bhattessa-Sharma’s Dragons’ Den setback lead to an even bigger success

In 2023, Shaye Bhattessa-Sharma made history as the youngest-ever contestant to secure an investment on Dragons’ Den at just 15 years old. Fast forward to today, and the now 17-year-old entrepreneur has taken his business to new heights with the backing of one of the UK’s wealthiest billionaires. Here’s how Shaye’s journey has unfolded since his memorable appearance on the BBC show.

A historic pitch on Dragons’ Den

Shaye, accompanied by his father Raj, entered the Den with his innovative football-themed board game, Football Billionaire. The game, which involves trading players like goalkeepers, defenders, and forwards, impressed Peter Jones, the show’s longest-standing Dragon. Peter offered £50,000 for a 20% stake in the business, and Shaye accepted, making headlines as the youngest entrepreneur to secure a deal on the show.

Keep ReadingShow less
Eros Media

Eros had agreed to make the payment on 10 March to investors who bought bonds issued by the company on the London Stock Exchange in 2014.

Bollywood film group Eros Media may delay £3.75m payout to UK investors

THOUSANDS of UK investors are uncertain about receiving a £3.75 million payment from Eros Media World, a Bollywood film group, as the company has indicated it may not be able to pay on time.

Eros had agreed to make the payment on 10 March to investors who bought bonds issued by the company on the London Stock Exchange in 2014.

Keep ReadingShow less
india-ireland

Jaishankar met Harris over a working breakfast at the Department of Foreign Affairs, where they finalised an 'Action Plan' aimed at strengthening bilateral relations. (Photo: X/@DrSJaishankar)

India, Ireland to strengthen trade ties with new Joint Economic Commission

INDIA and Ireland have agreed to establish a Joint Economic Commission (JEC) to boost trade, investment, and technology collaboration, external affairs minister S Jaishankar announced after a meeting with Irish foreign minister Simon Harris in Dublin on Friday.

Jaishankar met Harris over a working breakfast at the Department of Foreign Affairs, where they finalised an "Action Plan" aimed at strengthening bilateral relations.

Keep ReadingShow less
Rachel-Reeves-Getty

Reeves is expected to announce welfare spending cuts worth billions of pounds in the Labour government's Spring Statement on March 26. (Photo: Getty Images)

Welfare system too costly, needs reform: Rachel Reeves

CHANCELLOR Rachel Reeves said on Friday that the UK’s welfare system is "costing too much" and must be reformed as the government faces financial pressures from high inflation and borrowing.

Reeves is expected to announce welfare spending cuts worth billions of pounds in the Labour government's Spring Statement on March 26. The statement will be a follow-up to her first budget last October, according to reports this week.

Keep ReadingShow less