Cyrus Poonawalla, aged 82, is the Managing Director of the Serum Institute of India, which is one of the country’s largest vaccine manufacturers with a production of 1.5 billion vaccine doses annually. With a current net worth of 2,260 crore USD, he has multiple Covid 19 vaccine partnerships, including Covishield, developed by AstraZeneca and Oxford. The institute is also known for producing vaccines for some commonly known diseases like measles, polio, flu, etc.
In 1960, while the Serum Institute was still in the research phase and the vaccine industry was not yet developed, there was a scenario of high demand and a low supply of vaccines. It was quite a safe option for Poonawalla to enter a less competitive market. Eventually, in 1966, he launched SII (Serum Institute of India) and developed the first-ever anti-tetanus serum two years later.
In 1989, they went on to develop vaccines for diphtheria, tetanus, pertussis, and an anti-snake-venom serum, and became one of India’s largest vaccine manufacturing companies a year later. Further, in 1994, SII was accredited by WHO (World Health Organization) when they started exporting vaccines on a global scale. The majority stakes of his assets are listed in his financial services firm- Poonawalla Fincorp.
Cyrus Poonawalla is a well-respected name in the world of biotechnology and healthcare, not only in India but also globally. Over the years, he has emerged as a trailblazing entrepreneur, philanthropist, and visionary leader, whose contributions to science and technology have transformed the healthcare industry.
From humble beginnings, he built an empire worth billions of dollars. But his success story is not just limited to business. Coming from a simple household, Cyrus Poonawalla apparently became one of the well-known names in the vaccine manufacturing industry and a pioneer, especially during the Covid times. During the Covid-19 pandemic, SII manufactured the Covishield vaccine and has administered over 2.2 billion doses as of 4th March 2023.
Cyrus Poonawalla’s contributions to the fields of biotechnology and healthcare have been widely recognized, earning him a number of prestigious honours. Among them are:
- 2005: Padma Shri for his contribution to the field of medicine, by the Government of India.
- 2007: The Ernst & Young “Entrepreneur of the Year” in the category of Healthcare & Life Sciences in November.
- 2015: Ernst & Young Entrepreneur of the Year for India.
- 2018: Honorary doctorate from the University of Massachusetts Medical School.
- 2019: Honorary doctorate from the University of Oxford.
- 2021: Lokmanya Tilak National Award.
“We reach more children than Coca-Cola and PepsiCo can ever hope to,” as stated by Cyrus Poonawalla in an interview with Forbes, will likely reverberate for years.