India Attracts Millions Of Investments To Ramp Up COVID-19 Vaccine Production

World powers are increasingly turning to India as they look to secure the much-needed COVID-19 vaccine supplies. Japan, Australia, and the US have pledged more than $200 million to help Indian companies expand their production capacity. The investment seeks to accelerate the production of more than one billion doses to the global supply.

India Covid Vaccine Production Spree

The investment in Indian companies seeks to counter another effort led by Russia and China, supplying vaccines produced domestically. While most world powers have inked deals to secure their own supplies, China has been increasing supplies to developing nations.

Indian companies have been at the forefront in producing the much cheaper AstraZeneca plc (NASDAQ: AZN) vaccine, most of which have ended up in developing countries that are yet to secure key supply chains. The companies have also been able to ramp up production to meet demand in the West, having sent 5 million doses to the UK.

India’s edge in COVID-19 vaccine production does not come as a surprise. The country has been the biggest producer of vaccines for years. It currently produces more than half of the world’s vaccine volume.

Serum Institute Production Edge

Serum Institute has been at the forefront of the production spree thanks to its massive production capacity unmatched by any other manufacturer. The company has repurposed its manufacturing chain to focus on COVID-19 vaccines. It currently produces the vaccine by Novavax, Inc. (NASDAQ: NVAX)  and the AstraZeneca vaccine, which is being exported to developing countries.

Its facility 100 miles southeast of Mumbai is a buzz of activities crowded with trucks picking up the vaccines as others drop off supplies needed to produce the vaccines. The company has had to employ more staff in a bid to boost production levels. Security has also been bolstered with the employment of 50 commandos.

Serum international has always been the go-to facility for vaccines by world bodies such as UNICEF. While the company makes around 1.5 billion doses a year, its vaccines are some of the cheapest, some costing less than $1.

By reading our website you agree to the terms of our disclaimer, which are subject to change at any time. Owners and affiliates are not registered or licensed in any jurisdiction whatsoever to provide financial advice or anything of an advisory nature. Always do your own research and/or consult with an investment professional before investing. Low priced stocks are speculative and carry a high degree of risk, so only invest what you can afford to lose. By using our service you agree not to hold us, our editor’s, owners, or staff liable for any damages, financial or otherwise, that may occur due to any action you may take based on the information contained within our newsletters, website, twitter, Facebook or chat. We do not advise any reader to take any specific action. Our releases are for informational and educational purposes only. Never invest purely based on our articles. Gains mentioned on our website, twitter, Facebook, and on our website may be based on EOD or intraday data. We may be compensated for the production, release, and awareness of this article. We will disclose any and all compensation on the article page. This publication and its owner never hold positions in the securities mentioned in our articles. Our information may contain Forward-Looking Statements, which are not guaranteed to materialize due to a variety of factors. We do not guarantee the timeliness, accuracy, or completeness of the information on our site. The information in our disclaimers is subject to change at any time without notice. We are not held liable or responsible for the information in press releases issued by the companies discussed in these write-ups. Please do your own due diligence