In the UK, Indian pharma companies are focused on flying, is this why Poonawala is now focusing on 'London' instead of 'Pune'?
On May 4, the news came that Serum Institute of India (SSI), the world's largest vaccine manufacturer based in Pune, would invest around Rs 2300 crore in the UK. This information was given by the British Prime Minister Boris Johnson himself and he said that vaccine could be prepared in future in this SII facility. Currently, the Serum Institute will set up sales offices, clinical trials, research and development and vaccine manufacturing units there.
After this move by Poonawalla, an important question arises that do Indian pharma companies get on flight in England? The report published in CNBC said that Adar Poonawala's decision to find a new home in England was neither taken abruptly nor was it an emotional decision. This report says that SII has reached quite late England. Indian pharma companies are expanding very fast in England. Pharma companies are at the forefront of the 49 fastest growing Indian companies in England.
UK Government's Special Focus on R&D
If the growth of pharma companies in the UK is so high, then there will be some reasons for this. In fact, the UK government spends a lot on research and development of pharma companies. The UK government gives a huge tax relief to the companies doing research. If a company spends 1000 pounds on R&D there then it gets a tax relief of Rs 1300. Large companies like SII get the benefit of the Research and Development Expenditure Credit Scheme there. In this, companies get a tax credit of 13 percent.
There is a big relief in tax due to research work
If you talk about serum institute, then for the time being, it has decided to open an R&D center there. She, along with Oxford University and AstraZeneca, will conduct research to develop the vaccine. This is giving a lot of relief in the tax of the company. This is the reason why there is every possibility of new products coming from there. Nozzle spray has been announced by the company. As the virus is continuously mutating, pharma companies need to continuously work on their research. So SII seems to be a better option for doing research in England. Apart from this, there will also be ease of global supply from here.
Serum is the world's largest vaccine maker
SII is currently in the eyes of the world, as it is the largest vaccine maker by volume. Serum Institute is preparing a low-cost vaccine for AstraZeneca. In India, this vaccine is being sold under the name of Covishield. When Adar Poonawala arrived in London recently, he told The TIME magazine in an interview that I have come to London fearing India. I was getting threatening calls from big people there. The responsibility is very big on me and everyone wants that they should first get the vaccine supplied. That is why I have come to London from India. She is currently in London, although she had tweeted that I will return to India very soon.