Adar Poonawalla, the Chief Executive Officer of Serum Institute of India, which is the largest vaccine manufacturer in the world and has been chosen by Oxford and its partner AstraZeneca to develop a vaccine for Covid-19, on Friday said that he hopes that the country can expect to go back to normal by September or October next year.
Poonawalla, who was speaking at The Economic Times Global Business Summit, also said that he expects the vaccination of Indian citizens to start by January (next month) as his company has already submitted data for the approval of the emergency use of the vaccine.
“The vaccine development has been progressing at an unprecedented pace. We have submitted our final data, from the UK, India and other countries to the Drug Controller of India. We are just awaiting the results of their view which usually takes one to two weeks. So we are expecting, by the end of this month, to get a go ahead on the emergency use of the vaccine which will help with the vaccination of health-workers, elderly citizens and other citizens on priority,” Poonawalla said, adding that the full-use license of the vaccine is expected to come in two months after that.
The CEO of the Serum Institute of India also clarified that his company has submitted the UK and Brazil study results and data to the Indian authorities along with the data of the bridging study conducted in India. The Indian regulator will look at the data showcasing the efficacy of the vaccine in these studies and ensure that it is safe for use, he added underlining that Phase 3 trials were still underway in India ongoing.
When asked about the dosage of the vaccine, Poonawalla said that he would be recommending two full doses of the vaccine as patients or citizens inoculated with it have showed no need for hospitalisation. “The efficacy of the vaccine will be determined only after millions are injected and how the severity of the virus decreases,” he said.
Explaining further about the vaccine, Poonawalla said that in each quarter of the next year the company will complete phase-3 trials and release a vaccine, as it is difficult to understand which one of the four likely candidates will work better. “Once we have more clarity, we will continue with the production of the more successful vaccines,” he said.
Speaking about the volume of the vaccines sought by the Indian government, Poonawalla said that while the company is yet to sign a contract with the government, it has asked Serum Institute of India if it can fulfil 300-400 million doses by July 2021. He added that his export commitments include shipping of 200-300 million doses by July next year.
Poonawalla also said that India in the private sector could see vaccines stocked with doctors by March or April. “I foresee that a million doses could make it to the market post companies acquiring full-licence. At that point the vaccine will be in stocks with some doctors and chemists,” he explained.
When asked about the competition and vaccines from other companies, Poonawalla said that the unprecedented focus on developing a safe vaccine was a welcome change. However, he also said that India in all likelihood wouldn’t be able to buy or use Pfizer and Moderna products because the country has a shortage of cold storage and also because of the price.
Meanwhile, Poonawalla also warned that no vaccine is full-proof and said that while some vaccines will work with the elderly, others will work well with younger citizens. “We shouldn’t run around carefree without precautions after taking the vaccine. The citizens inoculated could be asymptomatic. Post-vaccination, we need time to figure out if the vaccine is stopping the spread of the disease. Until that time, we need to exercise precautions,” he said.
When asked about private investment in the business of developing vaccines, Poonawalla said that vaccines are a great area of interest for investors as pandemics will keep coming. He added that his own company was looking to raise $850 million but has stopped for the next four to six months as the company has received capital in the form of investment from Bill & Melinda Gates Foundation to the tune of $350 million and some advances from countries who are seeking the vaccine. Poonawalla himself has put in $250 million of his own money into the company.
He also said that he was not looking to publicly list his company as he wanted to run the company more freely. “We are not looking to list the company because we are running the company with the philanthropical bent of mind,” he explained.
