Mumbai, Oct 31 (PTI) Pune based Serum Institute of India, a part of Cyrus Poonawalla Group today said it is looking at achieving revenues of Rs 10,000 crore in the next five years period through new launches and expanding footprints in Europe and US.
“We are growing at 30 per cent CAGR and achieved revenue of Rs 4,000 crore last year. We are hoping to be Rs 10,000 crore company in the next five years period.
“We have launched Rotasiil vaccine and Rabishield, Rabies monoclonal antibody which will help us in achieving 30 per cent growth this year. We will launch more vaccines in coming years,” Serum Institute Chief Executive Officer Adar Poonawalla told reporters here.
The company is also developing vaccine and drug for dengue fever. It has commenced first phase of trials in Singapore and hopes to launch vaccine in 2020, Poonawalla said.
The world’s largest manufacturer of vaccines said, it sells about 1.3 billion doses a year globally across 147 countries. The company is now looking at expanding its footprints in Europe and US market, he said.
In a major breakthrough, Serum Institute today announced unveiling of its much-awaited Rotasiil vaccine and Rabishield, Rabies monoclonal antibody.
Rabishield has been developed in research partnership with Massachusetts Medical School, US.
The availability of Rotasiil and Rabishield worldwide will help reduce deaths caused due to Rotavirus and Rabies which cause fatal diseases, Poonawalla said.
The newly developed Rabishield is the world’s first recombinant rabies monoclonal antibody, which will help prevent Rabies, a 100 per cent fatal disease which does not have cure till date, but is almost 100 per cent preventable.
Rabies is reported to cause two deaths every hour in India. It is transmitted to humans after an exposure through bites or scratches from both domestic and wild animals.
“Our new drug – Rabishield – is a first-of-its-kind product for passive immunisation against Rabies. Since the new drug will be 25 per cent cheaper than the existing rabies immunoglobulins, it would meet the needs of the poor countries,” Poonawalla added.
Rotasiil is the world’s first thermostable pentavalent Rotavirus vaccine containing the G9 strain to help prevent the spread of Rotavirus which causes Diarrhoea mostly in babies and is often accompanied by vomitting and fever, leading to severe dehydration. It is reported that around 100,000 rotavirus related deaths occur in the country.
According to Poonawalla, “Scientists have been working on this Rotavirus vaccine for the last eight years. We had decided to develop a heat-stable vaccine to overcome the absence of cold-chain in many poor countries.”
This is published unedited from the PTI feed.