India had been severely hit by the second wave of the coronavirus pandemic and the country saw a shortage in the availability of vaccines. Even though the country is slowly recovering from the second wave the vaccination in the country is still facing certain problems and the one of the most important problems is related to logistics and supply chain management.
The e-commerce giant, Flipkart has announced that they would deliver the vaccines in Telangana through drones. Let’s look at the further details of the drone delivery by Flipkart.
On 11 June 2021, the e-commerce giant of India, Flipkart had announced that it was going to test the drone delivery facility of the company by delivering vaccines in the state of Telangana. The company conveyed that it would use the learnings from its supply chain that is tech enabled in order to use drones for delivering vaccines and medical supplies in the state.
The company announced that it had partnered with the Government of Telangana to form an association in order to run the task of delivering the medical supplies and vaccines to the remote areas of the state using the drone technology.
Flipkart to join hands with Medicines from the sky project for Drone delivery of Vaccine
Flipkart has conveyed that they will conduct the pilot drone delivery of medical supplies under the Medicines from the sky project. It is a project which outlines the requirement for drone delivery and to assess the proposals which are created under the Healthnet Global Limited and the World Economic Forum.
The Government of Telangana has decided to work on this project and to implement it into the healthcare supply chain of the state in order to implement drones for reaching the most remote areas in Telangana.
Flipkart’s plan of Drone delivery of Vaccine
Flipkart had conveyed that it would use the knowledge that the company has gained from their tech enabled supply chain in order to deploy the drones and to provide health care supply chain support by delivering the medical supplies.
These are going to be supported by the technologies which the company has developed over the years such as geo-mapping, track and trace of location and routing of shipments.
Some of these technologies will also be used to deliver the vaccines and medical supplies to the most remote areas where the infrastructure of the road makes it impossible to deliver them. The company will use the technology to conduct Beyond Visual Line of Sight deliveries using the drone. It will make the deliveries really faster and will play a major role in vaccinating the remote areas.
Pranav Saxena who is the distinguished product manager of Flipkart conveyed that the Coronavirus pandemic and the situation has pushed the countries worldwide to adapt to rapid technologies and shift towards robust technologies by developing scalable products. The medicine of the sky project is considered to be a sign towards it.
He added that the step taken by Flipkart is a quick decision in order to make use of the cutting edge technology for the safety and the wellbeing of the people.
He also conveyed that the company was proud to partner with the Government of Telangana in leading the association by utilizing the companies subtle understanding of the supply chain and the technologies that are helping and supporting in the automated movement of the medical supplies in completing the emergency requirements of the citizens across the state.
The company conveyed that even during the disasters or any natural calamities they would deliver the medical supplies and the required products using the drone technology and this will set a place in the industry for providing the necessary products in the time of need.
Government of Telangana on Drone delivery of Vaccine
The Government of Telangana has always been a step ahead in utilizing the technology for improving the lives of citizens. The Telangana Government stated that introducing the drone technology for delivery of vaccines and medical supplies for the citizens in the remote areas is going to be the first ever introduction in the entire country and added that the Government is happy to have partnered with Flipkart towards this initiative.
Jayesh Ranjan who is the Principal Secretary from the Government of Telangana has conveyed that this initiative will go a long way in testing the best in class technologies and solutions in order to solve the future crisis that will be faced by the society.
Conclusion
The drone delivery is considered to be the most effective way to deliver vaccines and to solve the supply chain related problems faced by the country. India is one of the most populated country having a lot of population concentrated in the remote areas, this technology can be a solution for the major crisis faced by the country regarding vaccines if worked effectively.
FAQ
Is drone delivery legal in India?
Yes, Drone delivery is legal in India but the operations must be limited to visual line of sight and the drone must not carry any dangerous goods.
Where is Flipkart planning to deliver vaccines?
Flipkart is planning to conduct drone delivery of vaccines in Telangana and deliver medical supplies under the Medicines from the sky project.
How many vaccines are there for Covid-19 in India?
India has authorized three COVID-19 vaccines: Covaxin developed by Bharat Biotech, Covishield developed by Oxford/AstraZeneca, Sputnik V developed by the Gamaleya Research Institute of Epidemiology and Microbiology, Russia.
The Covid cases in India has seen a surge due to the second wave in the country. Amidst the rise in cases and the shortage of vaccines certain Indian companies have announced that they would provide vaccination for their employees.
A handful of companies have also announced that they would provide the vaccination to the families of their employees as well as the third parties involved with the company’s day to day activities. Let’s look at the different companies who have announced that they would provide vaccines to the employees.
Wipro had announced that it would start its Covid vaccination drive for its employees in their Electronic city campus in Bangalore. A spokesperson of Wipro had conveyed that the company is taking all the measures in order to start vaccination camps in all their other branches in the country.
Sony India
Sony India had provided a policy for its employees which is a Mediclaim policy in order to cover the expenses for the Covid treatment of their employees at home. The company has announced that it is in the process of setting up vaccination camps for their employees.
Indian Bank Association
The Indian Bank Association had made an announcement conveying that the vaccination of the Bank employees should be given the top most priority. They added that around 10 lakh bank employees should be vaccinated immediately and the expenses should be reimbursed. But the association had left the decision towards the individual banks in regards to the vaccination.
Hindustan Uniliver
A HUL spokesperson had conveyed that the company is looking forward to vaccinate all its employees as government has given permission to provide vaccination for the individuals above the age of 18. However, the shortage in the availability of vaccines have been a setback.
Amitav Mukherji who is the HR head of ITC have conveyed that the managers have been designated by the company to conduct the vaccination drives across various locations in the country by tying up with healthcare facilities. ITC has also announced that they would provide the vaccination drive towards their service providers as well as their supply chain partners.
TCS and Infosys
TCS have announced that they are working on various types of models in order to conduct vaccination drives with direct partnership with their suppliers. In the same way the HR head of Infosys has conveyed that they are in discussions with the healthcare providers and vaccine suppliers.
Reliance Industries
Nita Ambani who is a non-executive director of Reliance Industries had conveyed in a letter to their employees that the company will provide vaccination for them as well as their family members. It is estimated that the company has a count of 2,00,000 people.
All India Petroleum Dealers Association (AIPDA)
Ajay Bansal who is the President of the association has conveyed that the vaccination of all the petrol pump attendants and staffs should be given the top most priority and that they should be considered as essential workers.
He has conveyed that the Government should ask the oil marketing companies or find some other mechanism to vaccinate them as they were considered as an essential worker during the lockdown and were not considered eligible to receive the vaccination jabs.
Share of People who received at least one does of vaccine
Indigo
Indigo has also announced that they would vaccinate their employees and their family members. The company has announced that they are working towards providing vaccinations in a phased manner so that their operations doesn’t get affected.
Capgemini
Capgemini had also announced that they would provide vaccinations to all their employees and also their dependents. The company has also tied up with wellness consultants in order to resolve the doubts and queries related to vaccination.
upGrad
upGrad had also announced that they would provide vaccination for its employees as well as their family members. The ed-tech company has announced that they would provide vaccines to full-time employees, interns, contract-based employees as well as their ex-employees.
Betterplace
Betterplace which is a tech-based company has announced that they would cover the full cost of the vaccination cost of their employees and their dependants. The company is also providing a day off for their employees on the day of their vaccination.
Atos which is an IT and a consulting firm has announced that it would cover the cost of the vaccination for its employees as well as their dependents under the medical insurance programme of the company. The company also conveyed that they would work together with local healthcare providers of the companies to implement the vaccination programme.
ICICI Bank
ICICI Bank has also announced that they would provide vaccination for their employees and their immediate family members. The bank has conveyed that it was a gesture of appreciation from the company towards its employees for dedicating their service during the tough times.
HDFC Bank
HDFC Bank has also announced that they would provide vaccinations for over 1 lakh employees and their family members. The bank has announced that they would reimburse the expenses for the mandated two doses of the vaccines.
Piramal Enterprises Limited
The company has announced that they would provide vaccines for their employees and their immediate family members and the choice of getting vaccinated is optional for their employees. They have set up a help desk across their offices for answering the queries of the employees.
FAQ
When did Covid vaccinations start in India?
16 march, 2021
How many Covid vaccines are produced daily in India?
This means, on a daily basis, 28.33 lakh doses of the COVID-19 vaccine are produced in the country.
Are Indian companies providing covid vaccine to its employees?
Yes, Many major companies in India are providing Covid vaccination for free to its employees.
Conclusion
However, these are the major companies that have announced to provide vaccinations to their employees. Almost all the companies have decided to provide free vaccination to all their employees, in which around 70% of the companies are offering it to the dependents of their employees as well.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byPfizer.
Health and Human Services Secretary Alex Azar said that the US was currently manufacturing doses for all six potential vaccines backed by President Donald Trump’s government across more than 23 manufacturing facilities. These includes vaccines from Moderna, Pfizer, AstraZeneca and Johnson & Johnson, which are all in late-stage testing.
Pfizer is a research-based multinational biopharmaceutical corporation that develops, manufactures, and distributes healthcare products. Medicines and vaccines are part of its global portfolio. The Pfizer–BioNTech COVID-19 vaccine is an mRNA-based COVID-19 vaccine that is marketed under the brand name Comirnaty. It is given to people aged 16 and up to protect them from infection with the SARS-CoV-2 virus, which causes COVID-19.
This article will give you a complete Company Profile of Pfizer. Know all about Pfizer history, business model, founders, revenue, acquisition, covid-19 vaccine & more…
Pfizer/BioNTech has filed an application with the US Food and Drug Administration for full FDA approval of its Covid-19 vaccine for people aged 16 and up as of May 2021, according to the companies. This is the first Covid-19 vaccine to be evaluated by the FDA for complete approval in the United States.
The FDA has granted emergency use authorization (EUA) to Pfizer’s mRNA two-shot vaccine for use in the United States. To date, 170 million doses of the vaccine have been distributed throughout the United States, according to the firms.
“We are proud of the tremendous progress we’ve made since December in delivering vaccines to millions of Americans, in collaboration with the U.S. Government,” Albert Bourla CEO of Pfizer, said in a statement.
“We look forward to working with the FDA to complete this rolling submission and support their review, with the goal of securing full regulatory approval of the vaccine in the coming months.”
Pfizer is a research-based multinational biopharmaceutical corporation that develops, manufactures, and distributes healthcare products. Medicines and vaccines are part of its global portfolio.
Cholesterol-lowering Lipitor, pain-relieving Celebrex and Lyrica, pneumonia vaccine Prevnar, and erectile dysfunction medication Viagra, as well as arthritis medicine Enbrel, antibiotic Zyvox, and blood-thinning Eliquis, are among the company’s top prescription items. Generic medications and consumer health goods are also manufactured and sold by the company.
In partnership with BioNTech SE, a German biotechnology firm, Pfizer recently produced an mRNA-based vaccine for COVID-19. The vaccine’s efficacy has been verified in several trials to be between 90 and 100 percent.
Pfizer – Mission and Vision
The vision statement of Pfizer is – “Innovate to bring therapies to patients that significantly improve their lives.”
Pfizer mission statement is “to become the world’s most valued company to all of these people.” It zeroes down on the achievements that the company desires while at the same time meeting the expectations of all its patients. It focuses on the company’s desired outcomes while still meeting all of its patients’ needs.
Charles Pfizer and Charles Erhart, cousins who had immigrated to the United States from Ludwigsburg, Germany, founded Pfizer in1849.
The company, which was based on Bartlett Street in Williamsburg, New York, developed chemical compounds, including an antiparasitic called santonin. Both in their mid-20s, the two men started a fine chemicals company in a Brooklyn factory with a loan from Pfizer’s father. Pfizer’s chemist skills were combined with Erhart’s confectioner training in the company’s first product, a palatable anti-parasitic drug that tasted like toffee. It was a huge success, and it set the tone for the company’s future growth.
The American Civil War, which broke out shortly after in 1862, had an equal effect on the emerging pharmaceutical industry as it did on American society as a whole. Drug manufacturers were just as much a part of the “first industrial war” as arms manufacturers. The sudden demand for massive amounts of painkillers and antiseptics for the Union armies, like that of their rival Squibb, presented a huge opportunity to increase production. Pfizer’s sales had doubled since the beginning of the war in 1868, and their product ranges had greatly expanded.
Following the battle, Pfizer began to concentrate on industrial chemicals rather than drugs, manufacturing citric acid for the burgeoning soft drink industry, which fueled the expansion of brands including Coca-Cola and Dr. Pepper in the 1880s. For several years, this was their mainstay, setting the groundwork for their continued expansion. When the supply of tartaric acid was interrupted by the civil war and higher tariffs, Pfizer expanded its production to become the leading chemical supplier in the United States.
Pfizer – Covid-19 Vaccine
In April 2020, Pfizer collaborated with BioNTech to start developing a COVID-19 vaccine in response to the coronavirus pandemic. The BNT162b2 vaccine candidate is an mRNA vaccine. The drug-maker announced in November 2020 that results from Phase 3 clinical trials showed the vaccine was safe and reliable, with a 95 percent efficacy rate. It needs two doses, separated by 21 days.
Pfizer and BioNTech submitted an emergency use permission request to the FDA a few days after the positive clinical trial results were announced. The FDA approved the Pfizer-BioNTech COVID-19 vaccine for distribution in the United States on December 11, 2020.
Pfizer’s company name is after the founder Charles Pfizer and its logo is shaped like a tablet of medicine. The oval-shaped logo is a powerful brand identity that conveys a message of optimism, well-being, and progress. As opposed to the initial limit “P,” the letter “f” is intentionally made larger.
The tagline outlines Pfizer’s purpose, “Breakthroughs that change patients’ lives.”
Pfizer’s Company Logo
Pfizer – Business Model
Pfizer Innovative Health and Pfizer Essential Health are the company’s two commercial divisions.
Pfizer Innovative Health is dedicated to the development and commercialization of pharmaceuticals and vaccines. Internal medicine, vaccination, oncology, inflammation and immunology, rare diseases, and consumer healthcare are among IH’s therapeutic fields.
Legacy labels, branded generics, generic sterile injectable drugs, biosimilars, and infusion systems are all included in the Pfizer Essential Health category. EH also has a research and development department, as well as a contract manufacturing division. Prevnar 13, Xeljanz, Eliquis, Lipitor, Celebrex, Pristiq, and Viagra are some of the company’s brands.
The table below highlights some of the key financial metrics of Pfizer (extracted from the company’s annual reports)
Financial Metric
2020 (In Millions)
2019 (In Millions)
Total Income
$9,616
$16,273
PAT(Margin)
-11.89
219.75
Equity Share Capital
45.75
45.75
Net Fixed Assets
2513.05
2127.65
Pfizer – Revenue and Growth
Pfizer’s COVID-19 vaccine sales exceeded analyst expectations by about 60%. As of mid-April 2021, the company produced 1.6 billion doses of the vaccine under signed contracts. Pfizer’s operating sales increased by 8% even without revenue from the COVID-19 vaccine.
With exclusivity for Pfizer’s second-best-selling medication, Lyrica, expected to expire in June, the pharma expects a $2.6 billion sales hit from competitive pressures, almost $1 billion more than in 2018.
As of November 2020, Pfizer’s Covid-19 vaccine, made in partnership with the German firm BioNTech, was stored at subzero temperatures, and there were lots of distribution challenges in rolling it out in the weeks ahead.
Pfizer is “running at critical supply limitations,” Dr. Bourla, the CEO said, adding that he hopes the government deploys the Defense Production Act to solve the problem.
Meanwhile, the FDA contacted Pfizer about a different problem with its vaccine. According to some press accounts, several pharmacists giving the shots found that each vial contained more than the planned five doses. They wondered if they could eke out another dose, or even two, from the leftovers.
Pfizer – Future Plans
Pfizer has revealed plans to increase sales in Latin America, Eastern Europe, and Asia, which are all developing markets. The organization will use its global reach and product portfolio to provide health solutions to the rising and underserved population of middle-income patients in these areas.
The company identified four factors that will aid its expansion in the developing Asian pharmaceutical market, which is worth $47 billion. Expanding its current presence in high-growth markets, establishing leadership in oncology, tailoring portfolio offerings to local consumer needs, and leveraging global manufacturing and R&D in Asia are among these factors.
Pfizer expects to spend $5 billion in capital projects in the United States over the next five years, including expanding its manufacturing footprint in the country. In 2019, it announced an additional half-billion-dollar investment in Sanford, North Carolina, for the construction of a cutting-edge gene therapy manufacturing facility.
Pfizer – FAQs
What does Pfizer do?
Pfizer is a research-based multinational biopharmaceutical corporation that develops, manufactures, and distributes healthcare products. Medicines and vaccines are part of its global portfolio.
Who founded Pfizer?
Charles Pfizer and Charles Erhart, cousins who had immigrated to the United States from Ludwigsburg, Germany, founded Pfizer in 1849.
Which companies do Pfizer compete with?
The top competitors of Pfizer are Merck, Novartis, BMS, Johnson & Johnson, GSK, Abbott, Cipla, Roche, Eli Lilly, Bayer.
The second wave of the Covid-19 cases has been increasing in the country for the past few months. The daily active cases are rising and currently, India has seen the greatest number of single-day cases around the world. The country has a total of around 2.15 crore active cases and 2.34 lakh deaths as of 7 May 2021.
The vaccine drive had started widely across the country majorly concentrating on the people for above 45 years of age. From 1 May 2021, the Prime Minister of the country had announced that anyone above the age of 18 years could get vaccinated.
Here is the list of mobile applications and the websites you can use for finding the slots for covid-19 vaccination.
CoWIN remains the major app for androids and a website no matter though which website you try to book your vaccine. It is the only website and android users to book the slot for the Covid-19 vaccine online. The CoWIN app portal is also accessible through the Aarogya Setu app for both android and iOS users.
The CoWIN app works in the most traditional way, you will have to enter your pin code in order to look for the available slots for the vaccination.
Getjab.in
Getjab.in is a website that helps you in notifying the availability of slots for the Covid-19 vaccination. Unlike CoWIN this website will notify the users through email notifications when there will be an availability of the slot for the vaccination drive.
The website is run by the alumni of the Indian School of Business Shyam Sunder with his colleagues. The site would ask for the users’ information such as the name, location, email address and an optional phone number.
In order to get notified users will have to register on the website. Getjab.in claims that the data which is shared once will not be reshared or sold to anyone else. The site adds a note on its webpage which says “Get notified by email whenever slots open up for 18 – 45 years age group.
Getjab.in Website
Under45.in
Under45.in is another website that shares the data of the availability of slots for the Covid-19 vaccine. The website works in a much more similar way compared to Getjab.in but it does not send notifications through emails.
The website will help in finding the availability of vaccine centers in a particular area and in addition to that the developer of the website Berty Thomas is providing the links for telegram groups through his Twitter account.
Will soon be rolling out Alerts feature for https://t.co/VXNLXkLu8C The alerts will be via @telegram . Will first be rolled out for major city districts. Watch this thread!
The telegram groups will provide the same slot availability options. When compared to Getjab.in, Under45.in requires only the information regarding the state and the district and it doesn’t require your name or any other personal details such as email and phone number.
This makes Under45.in a notable website for users who are concerned about their privacy. Based on the recent searches the site would contain the list of the slots that are available.
Finslot.in
Findslot.in is another website that will help users find the availability of vaccine centers across the country. Findslot.in works in a similar way to Under45.in. The website uses the API of the CoWIN website.
Finslot.in works much more similar to the CoWIN portal itself. The users will have to enter their different pin codes individually to know the availability of slots for the Covid-19 vaccine. There are claims that the website can be unreliable at times as it failed to show the availability of centers even while there were available slots in specific centers.
However, the website claims that the availability of the slots in centers would change in real-time. Users of the website can reach the developers through Twitter if they face any kind of issue.
WhatsApp MyGov Corona Helpdesk
WhatsApp also helps the citizens of the county find Covid-19 vaccine centers and slots through the WhatsApp MyGov Corona Helpdesk chatbot. This was launched in March 2020. The process to find the slot and a vaccine center is considered to be very simple.
WhatsApp MyGov Corona Helpdesk chatbot
The users will have to save the number 9013151515 on their Android or iOS smartphone. Users can also use the chatbot using their desktop through WhatsApp Web.
Once the MyGov Corona Helpdesk chatbot is launched on your WhatsApp, the users will have to send a text with hi or hello to get a response from the bot. The automated response will ask users to select an option for their Covid-19 related information. You will also find an option for finding the vaccine center nearest to their location. Users also have an option to chat with the chatbot in Hindi just by sending the text Hindi or typing it in the Hindi language.
Covid-19 Vaccine Tracker on Google Sheets
Amit Agarwal who is the programmer and founder of Labnol has set up an automated system using Google sheets. The system will notify the users through emails whenever there is an availability of vaccines in their location. The project has an open-source license which lets anyone access it.
Get email alerts when #COVID19Vaccine becomes available in a vaccination center near you. (Built with Google Sheets)
They will just have to make a copy of the tracker in order to get started. Here are the steps to be followed to activate the mail notification.
1. You will have to make a copy of the vaccine tracker Google Sheet.
2. Then you will have to click the Vaccine Tracker Option and click enable.
3. Use Google account to authorize the app.
4. You will have to click enable again on the vaccine tracker
5. There will be an appearance of an alert box
6. You will have to enter your details such as pin code, email id, age group etc.
7. You will have to click on email alert and you will get a notification whenever the vaccines are available.
Paytm
Paytm has launched a new tool in its mini app store which will help in finding the availability of vaccines. The tool will help the users to find the availability of vaccines on specific dates by entering the pin code or the details about the district for the eligible age groups that is 18+.
The users can also receive alerts on a real time basis on the app to receive information about the slots for vaccines.
PhonePe
PhonePe also has launched a new tool in its mobile application in order to help the citizens in finding the availability of the vaccines. The users will have to open the mobile application and provide details such as pin code or location and enter the age category for the vaccines.
You will have two options that is 18+ or 45+and also choose the type of vaccine according to the preference of the user.
FAQ
Who are affected by Covid-19 in IPL?
Wriddhiman Saha of Sunrisers Hyderabad and Amit Mishra of Delhi Capitals were affected by Covid-19.
When we can register for Covid vaccine?
Registration of Covid vaccine will start from 1 May.
How many Covid vaccines are produced daily in India?
So far, India is producing roughly 2 million vaccine doses each day.
Conclusion
The Covid-19 vaccination drive for the 18 + years of age is expected to start very soon in the country since the cases are increasing on a regular basis and most of the states have opted for a complete lockdown.
The increase in the Covid-19 cases has led to a lot of tech companies and big corporates helping India during the crisis. The second wave of the coronavirus pandemic has hit India really hard with the daily cases rising and the deaths in the country increasing.
The citizens of the country are finding it hard to access the basic medical requirements. This is when a lot of companies have come forward to help India. Let’s look at the latest donations from big companies for India in order to fight the Covid-19.
Pfizer which is an American based pharmaceutical company has announced that it will send medicines for the treatment of Covid-19 to India. The company announced that it would send medicines worth USD 70 million (around INR 510 crores) to India from its distribution centres.
Albert Bourla, the CEO of Pfizer said in an email that to the employees of India that the company is deeply concerned about the critical condition faced by India due to Covid-19.
Mahindra Group
The chairman of Mahindra Group, Anand Mahindra has launched a project in Maharashtra called as Oxygen on Wheels. This project will focus on the easy transportation of oxygen from production plants to hospitals and homes amid the coronavirus pandemic.
Anand Mahindra had posted a tweet that conveyed that in the current situation oxygen is the key to reduce mortality and the problem is not the production of oxygen but the transportation and he added that the company is trying to bridge the gap between that.
Sony Group
Sony Group had also recently announced that the company will provide a donation of around USD 1 million (around INR 7.4 crore) in order to help India amid the Covid-19 crisis. The company said that it would procure PCR testing machines and oxygen for medical purposes by donating the amount to UNICEF and other organizations.
Qualcomm
Qualcomm which is a chipmaker had recently announced that it would provide a donation of around USD 4 million (around INR 30 crores) to India amid the surge of Covid-19. The company said that one of the key strains faced by the company is the shortage of medical supplies and lifesaving equipment.
The company said that they have been thriving hard and actively working towards finding ways to provide relief to the Indian community through philanthropic activities.
SpiceJet has announced that the cargo arm of the company SpiceXpress has airlifted more than 4,400 oxygen concentrators from different countries such as Hong Kong, USA, Singapore and China in the last two weeks.
The company added that they have transported around 34 million doses of vaccines for Covid-19 to India between January 12 and April 12 and also around 700 concentrators from China to New Delhi.
Google
Sundar Pichai, the CEO of Google and Alphabet announced that the company will be donating an amount of INR 135 crores to India in order to fight against the coronavirus pandemic. The company will provide funding for two grants.
The first grant will be given to GiveIndia in order to provide cash assistance to the families that have been affected due to the Covid-19 crisis. The grant amount is expected to be around INR 20 crore.
The second grant will be given to UNICEF in order to provide oxygen and the required medical supplies and testing equipment.
Xiaomi India
Xiaomi which is one of the leading smartphone companies in India had announced that it would provide an amount of around INR 3 crore to India. The amount will be for procuring 1000+ oxygen concentrators.
The CEO of the company conveyed that these oxygen concentrators will be supplied to the hospitals and the state governments according to the requirement. The company also announced that it is working together with GiveIndia to help the frontline workers of the country by raising a capital of INR 1 crore.
Microsoft
The CEO of Microsoft Satya Nadela had announced that the company will help India in purchasing critical oxygen concentrators and also added that the company will use its resources, voice and technology to help India fight against the Covid-19 pandemic.
Amazon
Amazon India has been collaborating with different organizations in order to urgently lift oxygen concentrators of around 8,000 and 500 BiPAP machines from Singapore. The company conveyed that it would take care of the cost for lifting the concentrators and BiPAP machines through Air India and other national carriers.
The CEO of Paytm Vijay Shekhar Sharma had announced on Sunday that the Paytm foundation will raise an amount of INR 2 crore through donations for oxygen concentrators. Paytm also added that they would add the same amount of money towards the donation from the company.
Ford Motors
Ford Motors which is an American based automobile major has announced that the company will donate surgical masks of around 50 lakhs in number, 1 lakh N95 masks and 50,000 gowns in order to fight against the Covid-19 second wave in India.
The company said that Ford Fund will also donate around USD 200,000 (around INR 1.5 crore) to support various organizations that are providing Covid-19 relief in Brazil and India.
One Plus one of the premium mobile phone brands in India has said that it would donate around 400 oxygenators in order to help the Indians to fight against the Covid-19 pandemic. The One Plus Global community has also expressed their interest in making contributions for the country.
The company has also tied up with GiveIndia in order to raise funds for the frontline workers in India.
FAQ
What is the current Covid situation in India?
India is in the midst of second wave of COVID-19 and is recording over 300,000 daily coronavirus infections.
Who issued the official name of COVID-19?
The official names COVID-19 and SARS-CoV-2 were issued by the WHO on 11 February 2020.
Which Covid vaccine is used in India?
Covishield vaccine, manufactured by Serum Institute of India, and Bharat Biotech’s Covaxin are being used for the vaccination programme.
Conclusion
The second wave has been increasing and the situation of the country is worsening as days pass. The governments and different organizations are working together in fighting the second wave of the Covid-19 pandemic. There are also many individual volunteers and foundations providing support to fight the country against the deadly virus.
“Not all heroes wear capes”, this saying was realized when Indian Logistics companies started pitching in to meet the shortage of oxygen during the Covid crisis. It is not possible to set up new oxygen plants or expand the old ones in a limited time. That’s why the focus had to be shifted to logistics.
During the first wave, the demand for oxygen went north from 700 MTPD (Metric tonnes per day) to 2,800 MTPD. The second wave launched it even higher to 5000 MTPD. This puts immense pressure on local bodies to deliver the requirement on time.
In this case, logistics entrepreneurs have come out as saviours. They are working were both solely and in collaboration with government bodies and international firms to meet the rising demand.
Below is the List of logistics companies that are helping deliver oxygen cylinders in this oxygen crisis:
Gurugram based unicorn startup, Delhivery has been contributing to meet the supply of oxygen cylinders. The CEO of Delhivery, Sahil Barua, seeks help from international firms while he plans to import oxygen from countries like China. The company is reaching out to people through social media to provide logistics support.
Chartered flights brought in oxygen cylinders on April 28 and April 30 from Shanghai to Delhi. Nitin Goyal promises to provide end-to-end support to anyone who asks for it. He provided his email, i.e., nitin.goyal@delhivery.com, where the requester can provide the details of volume and address
“We are flying charters into India with oxygen concentrators and other essential supplies and can build more capacity on demand.” – Sahil Barua, CEO Delhivery
A group of Gurugram based startup founders launched, “Mission Oxygen”, to meet the oxygen demand. They managed to raise 4.60 crores and aim to reach the target of 5 crore INR to deliver 3000 oxygen cylinders. The mission was funded by many businessmen and Bollywood celebrities.
The situation has gone so bad that patients and even doctors have resorted to social media to ask for help. In the scenario, government bodies have been proved to be unprepared. The startups on the other hand are well equipped with their advanced technology and measures that can provide valuable solutions. They gather funds and quickly put them to use.
Amidst the havoc, Mahindra Logistics has emerged as another saviour as it launched, “Oxygen on Wheels” (O2W). They aim to deliver oxygen all around Mumbai to meet the shortage of oxygen.
Maharashtra is among the topmost affected states where the oxygen demand has sky-rocketed. Mahindra deployed over 100 vehicles in Mumbai, Pune, Thane, Pimpri Chichwad, Chakan, Nasik, and Nagpur.
The company has partnered with administration and local government bodies to fight this battle. Mahindra plans to supply oxygen in Delhi too. Since the condition is worsening and effective distribution becomes crucial, it is also planning to deliver oxygen directly to the homes of the patients where the condition is critical.
Loginext is Mumbai based logistics startup that has also pitched in the meet the demand. It plans on collaborating with Brihanmumbai Municipal Corporation (BMC) to deliver oxygen cylinders to the needy. It has also collaborated with over 50 delivery platforms to launch an oxygen-delivering service.
Dhruvil Sanghvi, CEO of Loginext understands that the bigger problem lies in distribution rather than the supply. That’s why they are working with local government bodies to ease the distribution.
Indian Air Force has also been lifting and delivering oxygen cylinders and other medical supplies. They are even lifting medical staff from different places and bringing them to required locations. Till now they’ve managed to lift cylinders from Bangkok, China, Singapore, and UAE to help the country in this crisis.
FAQ
How is oxygen delivered at home?
Oxygen is usually delivered to home as compressed oxygen gas or as Liquid oxygen.
Do oxygen concentrators run out of oxygen?
Oxygen concentrators does not run out of oxygen.
Can I import oxygen concentrator to India?
The Delhi High Court on Wednesday asked the finance ministry to consider exempting oxygen concentrators imported by individuals for personal use from integrated goods and services tax.
Conclusion
As India battles with the second Covid wave, we are faced with an ever-present logistics problem. But these companies with the help of others have proved that where there’s a will, there’s a way. While they continue to distribute oxygen, we can contribute by staying at home and following guidelines.
The second wave of the Covid-19 pandemic in India has led to the significant growth of online pharmacies. The lockdown being implemented in various states and the strict restrictions have led to the surge in for medical devices and PPE kits by the consumers through e-pharmacies. Let’s look at the growth of e-pharmacies in India.
The growth of the e-pharmacy sector has increased by up to 35 % compared to last year according to Industry trackers which is almost 3 times the expansion in the number of consumers ordering medicines and the essential substances for Covid-19 online. They claim that the sector is expected to witness much more growth in the current year as well.
Ankur Pahwa who is the Partner and National leader for the E-commerce and Consumer Internet sector of EY India had said that since the base is much more larger, they expect the growth to slow down. He added that the sector will not be able to see a growth of 40-45 % this year, but is still expected to remain high because of the increase of digitalization in the country.
EY has an estimation that the online pharmacy sector in India will grow to around USD 2.7 billion by the year 2023 from USD 360 million in 2019.
1mg is one of the top 3 e-pharmacy firm in the country. The company has said that there has been an increase in the medicines such as Fabiflu and Doxzee which is said to treat the mild cases of Covid-19. The company said that there was an increase of around 40x to 50x in the month of April 2021 compared to March 2021.
The company said that the sales of these drugs would have been higher if they wouldn’t have faced challenges regarding the supply of the drugs. 1mg reported that the demand for the Covid-19 related products was 5 times more in the month of April 2021 compared to the previous month March 2021.
Wellness Forever Medicare
Wellness Forever which is an omnichannel pharmacy chain has said that their orders have increased due to the second wave by around 25 %. The company has said that they have seen an increased demand for medical devices such as thermometers and oximeters, medicines and FMCG products.
Gulshan Bhaktiani who is the co-founder of Wellness Forever Medicare said that the company has seen a similar rise in order over different mediums such as walk-ins, app and calls. The company’s revenue had seen an increase of around 25 % for the year ended March 2021.
Indian pharmaceutical sector growth
Other E-pharmacy companies
Pharmeasy which is backed by Prosus and the leader of the online pharmacy market in India said that the company is looking forward to provide vaccination for around 30 million people. The company wants to become the largest private player in the vaccination drive in India.
It is planning to work with Corporates, healthcare providers and resident welfare associations.
Even the healthcare booking platform Practo has said that it is planning to largely work with corporates in order to provide vaccination to around 10 million people. The company has already confirmed that around 500 corporates have shown interest and have an employee strength of 1 million.
The company said that it is looking forward to work with around 1,000 companies for the first round of the vaccination drive.
The increase in the cases due to the second wave in most of the metro cities and this leading to lockdown and strict curfews have made the consumers to order the medicines and the Covid related items online rather than visiting offline pharmacies and diagnostic centers.
According to the company executives and industry experts, this is the major reason for the increase in sales by up to 25 – 65 % for online pharmacies.
Demand for Covid-19 related products
Prashant Tandon who is the co-founder of 1mg said that there is an unlimited need by the consumers currently and the company is investing on an active basis to ensure the supply chains can reach the demand of the consumers.
He added that the consumers are very anxious and fearful about exposure as they get their lab tests and medicines.
The demand for Covid-19 related products such as pulse oximeters, oxygen cans, masks, PPE kits, supplements such as Zincovit and Limcee is similar in all the major online pharmacies according to experts.
Customer requests for products on an online platform. The request is sent to an off line brick and mortar store. The prescription is validated and verified by pharmacists and only then the order is accepted for fulfilment.
Does online pharmacy require drug license?
Yes, online pharmacy businesses require drug license.
What is an online prescription?
Online prescription enables people to compare treatment prices, find a healthcare provider, and schedule an appointment all in the comfort of their own home.
Conclusion
The second wave of the Covid-19 pandemic is the main reason for the growth of the e-pharmacy business around the country. We may be able to see an increase in the growth of industries in the coming years.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved byPanacea Biotec.
Since the pandemic began, India has recorded more than 19 million cases, second only to the United States. Over 200,000 deaths have also been recorded. A total of 150 million vaccine shots were given out, covering 11.5 percent of India’s population of 1.3 billion people. Panacea Biotec is a pharmaceutical and vaccine company based in New Delhi, Mumbai, and Lalru in India.
Panacea Drugs Pvt. Ltd. was established in 1984 and became Panacea Biotec Ltd. in 1995. India’s second largest vaccine manufacturer, Panacea Biotec, offers a highly advanced prescription product range in essential therapeutic areas such as pain control, diabetes care, renal-disease management, anti-osteoporosis, anti-tubercular gastro-intestinal care drugs, and vaccines.
Know the entire Company Profile of Panacea Biotec in the post ahead! Also get a glance on Panacea Biotec vaccine news, its business model, how it started, Panacea Biotec products and more…
As of April 2021, the stock of Panacea Biotech has risen to levels not seen in more than a decade.
“The Russian Direct Investment Fund (RDIF), and Panacea Biotec announced cooperation to produce 100 million doses per year of Sputnik V, the world’s first registered vaccine against coronavirus,” the company said in a press release on April 4.
Production of Sputnik V at Panacea Biotec sites would aid in RDIF’s foreign partners’ global supply of Sputnik V. Sputnik V has been registered in fifty-nine countries with a total population of more than 1.5 billion people around the globe. Data published in the Lancet, one of the world’s oldest and most respected medical journals, shows that Sputnik V has around ninety-two percent efficacy score.
“The vaccine is based on a proven and well-studied platform of human adenoviral vectors and uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots,” it said.
About Panacea Biotec and How it Works?
On February 2, 1984, Panacea Drug was incorporated as Panacea Biotec Limited, India’s leading science-based health management company with established research manufacturing and marketing expertise.
India’s second largest vaccine manufacturer, Panacea Biotec, offers a highly advanced prescription product range in essential therapeutic areas such as pain control, diabetes care, renal-disease management, anti-osteoporosis, anti-tubercular gastro-intestinal care drugs, and vaccines.
The business has collaborated with established national and international research businesses and organizations. PBL has four research and development centers and ultra-modern state-of-the-art production facilities in Himachal Pradesh, Punjab, and Delhi for manufacturing vaccines and pharmaceutical formulations that meet US-FDA, UK-MHRA SAMCC, and WHO-cGMP requirements.
In addition, the company owns 24 product patents that are valid in over 60 countries around the world. Radicura Pharma, a vaccine manufacturing plant opened in 1988, and Panacea Drug, a pharmaceutical formulations plant opened in 1989, in New Delhi.
Panacea Biotec’ s mission is derived by its core values:
Innovation
Pioneer
Integrity
Humane
Panacea Biotec was established in 1984 as Panacea Drugs Private Limited, with the aim of making innovative products affordable and available to the general public.
Panacea Biotec – Founder and History
Panacea Biotec Ltd was established in 1993 as a result of a merger between Panacea Drugs (P) Ltd and Radicura Pharma. Panacea Biotec built a state-of-the-art Drug Delivery R&D center in Lalru in 1995, the same year it launched its initial public offering. The company received its first product patent in many countries in 1997.
In 2001, PBL’s Research & Development formed a partnership with a European MNC, and in 2002, an in-licensing agreement with the Biotechnology Consortium of India was signed for the development and commercialization of the anthrax vaccine. The company also opened a Recombinant Vaccine Manufacturing Plant in the same year, 2002.
In 2004, PBL signed an in-licensing agreement for the marketing of Japanese Encephalitis Candidate Vaccines with the National Institute of Immunology in New Delhi, and a collaboration with Cambridge Bio-stability UK for Thermo Stable Vaccines.
Key People/Executive Directors of Panacea Biotec –
Panacea Biotec product range includes highly advanced pharmaceutical drugs in specialty clinical fields like Pain Management, Diabetes & Cardiovascular Management, Oncology, Renal Disease Management, Osteoporosis Management, Anti-tubercular, Gastro-intestinal Care Products, and Vaccines.
Panacea Biotec’s current business is focused on its leadership positions in India, which include Transplant, Nephrology, Diabetes, and Pain, as well as some unique products based on proprietary Drug Delivery Systems. Its first Nanotechnology-based medicine, PacliAll (Paclitaxel in protein-bound particles), was introduced in 2011 and was the world’s first generic for Abraxane, produced by Celgene USA.
Panacea Biotec – Name, Logo, and Tagline
Panacea Biotec Private Limited was established in 1993 as a result of a merger between Panacea Drugs and Radicura Pharma.
Panacea Biotec’ s tagline is “Innovation in support of life,” which implies the company is India’s leading science-based health management company with established research manufacturing and marketing expertise.
Company Logo of Panacea Biotec
Panacea Biotec – Business Model
Panacea Biotec is a pharmaceutical and vaccine company. Panacea Biotec’s product range includes highly advanced pharmaceutical drugs in specialty clinical fields
Oncotrust, Critical Care, Diacar, Procare, and Growcare are the five strategic business units (SBUs) that Panacea Biotec has created to sell and market pharmaceutical formulations.
Panacea Biotec has entered the Contract Research & Manufacturing Services (CRAMS) market with the aim of expanding its knowledge and experience in on-time and high-quality delivery to clients.
The Company has built a strong portfolio in the fast-growing, multi-million dollar CRAMS market, based on its strong capabilities and state-of-the-art facilities, and powered by the enthusiasm of its experienced and skilled people. From sourcing to production, packaging to growth, the Company’s CRAMS portfolio covers the entire spectrum of processes and services.
The table below highlights some of the key financial metrics of Panacea Biotec extracted from the company’s annual reports.
Financial Metric
2019-20
2018-19
Total Income
5335.83
4522.83
PAT
(1530.7)
265.7
PAT Margin (%)
(31.70)
6.04
Equity Share Capital
61.25
61.25
Net Fixed Assets
5667.47
8232.42
Panacea Biotec – Funding and Investors
Panacea Biotec is a publicly traded company listed in stock exchanges. It has also received investments from India Resurgent Fund and more .
Date
Round
Amount
Lead Investors
Dec 21, 2019
Grant
$24.3M
–
Apr 8, 2019
Venture Round
$144M
India Resurgent Fund
Panacea Biotec – Competitors
Glenmark, Torrent Pharmaceuticals Limited., Ranbaxy, Cipla, Dr. Reddy’s, Lupin, Aurobindo, Sun Pharma, Zydus Cadila, Cadila Pharmaceuticals are the top ten competitors in Panacea Biotec’s competitive set.
Panacea Biotec Ltd.’s stock plummeted after the US Food and Drug Administration sent a warning letter to its Baddi, Himachal Pradesh, unit, prohibiting new approvals.
Following an inspection on February 10, 2020, the US Food and Drug Administration released a warning letter outlining major violations of existing good manufacturing practice legislation for finished pharmaceuticals.
“Until you correct all violations completely and we confirm your compliance with CGMP (current good manufacturing practice), FDA may withhold approval of any new drug applications or supplements listing your firm as a drug manufacturer,” it said in the statement.
The company failed to develop laboratory controls, such as scientifically sound and acceptable requirements, guidelines, sampling plans, and test procedures, to ensure that materials, drug product containers, closures, in-process content, labelling, and drug products meet appropriate identification, power, consistency, and purity standards.
To guide long-term development, Panacea Biotec plans to scale up its vaccine and pharmaceutical verticals. According to a company spokesperson, Panacea Biotec’s long-term growth ambitions include scaling up its current product range, developing new drugs, and expanding into new markets.
The company transferred its pharmaceutical formulations business, as well as related research and development and natural products extraction activities, to its wholly-owned subsidiary Panacea Biotec Pharma Limited during the year under review.
In June 2020, the company announced the formation of a joint venture company in Ireland with Refana Inc of the United States to produce a COVID-19 vaccine. Panacea Biotec will be in charge of product production and industrial manufacturing, while the JV agency will be in charge of clinical development and regulatory submissions all over the world, according to the agreement. In their respective territories, Panacea and Refana will sell and distribute the vaccine.
Panacea Biotech – FAQs
What does Panacea Biotech do?
Panacea Biotec is an Indian pharmaceutical and vaccine company with headquarters in New Delhi, Mumbai, and Lalru, in India.
What is Panacea Biotec Vaccine News?
Panacea Biotec is India’s second largest vaccine manufacturer. The Russian Direct Investment Fund (RDIF) and Panacea Biotec announced cooperation to produce 100 million doses per year of Sputnik V, the world’s first registered vaccine against coronavirus (April 2021)
How Panacea Biotec Started?
Panacea Biotec Ltd was established in 1993 as a result of a merger between Panacea Drugs (P) Ltd and Radicura Pharma.
What are Panacea Biotec Products?
Panacea Biotec product range includes highly advanced pharmaceutical drugs in specialty clinical fields like Pain Management, Diabetes & Cardiovascular Management, Oncology, Vaccines among others. Its first Nanotechnology-based medicine, PacliAll was the world’s first generic for Abraxane.
Who are the competitors of Panacea Biotec?
Glenmark, Torrent Pharmaceuticals Limited., Ranbaxy, Cipla, Dr. Reddy’s, Lupin, Aurobindo, Sun Pharma, Zydus Cadila, Cadila Pharmaceuticals are the top ten competitors of Panacea Biotec
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved bySerum Institute of India.
India has reported more than 19 million cases since the pandemic started, second only to the United States. There have also been over 200,000 deaths recorded. A total of 150 million vaccine shots have been administered, covering 11.5 percent of India’s 1.3 billion population. Serum Institute of India is India’s leading biotechnology firm, producing highly advanced life-saving biologicals such as vaccines, antisera, and other medical specialties using cutting-edge genetic and cell-based technologies. Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals
Serum Institute of India Pvt. Ltd. is now the world’s largest vaccine manufacturer, with more than 1.5 billion doses manufactured and distributed worldwide.
Know the complete Success story of Serum Institute and get a glance on on how Serum Institute started, its revenue, business model, its role in Covid-19 vaccine development, competitors & more…
May 2021 – CEO Adar Poonawalla, who has been in the United Kingdom on an extended stay to avoid alleged threats in India over rising demand for COVID-19 vaccines, has announced that he will return in a few days.
Had an excellent meeting with all our partners & stakeholders in the U.K. Meanwhile, pleased to state that COVISHIELD’s production is in full swing in Pune. I look forward to reviewing operations upon my return in a few days.
Serum Institute of India Pvt. Ltd. is now the world’s largest vaccine manufacturer, with more than 1.5 billion doses manufactured and distributed worldwide, including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines.
Serum Institute vaccines are administered to approximately 65 percent of the world’s children. The Serum Institute’s vaccines are approved by the World Health Organization in Geneva and are used in over 170 countries around the world as part of their national immunization programmes, saving millions of lives.
The Serum Institute of India uses cutting-edge technology to scan its goods for minute particles that are undetectable by the naked eye. The inspection is completely automated, with high resolution CCD cameras and an electronic monitored panel, reducing the margins of human error.
Tetanus antitoxin, snake antivenom, DPT vaccine, and MMR vaccine were among the first drugs manufactured in large quantities by the Serum Institute of India. Vaccines against bacterial and viral infections, combined vaccines, influenza vaccine, and meningococcal vaccine were added to the company’s product line.
Serum Institute’s mission is to develop high-quality vaccines and make them affordable to a wide range of countries, allowing them to increase their Health Index. The Serum Institute was founded to ensure that vaccines are no longer a privilege for Indian children.
Serum Institute began supplying high-quality, but affordable vaccines to many countries around the world after achieving this aim. International agencies such as the WHO, PATH, NIH, NVI/RIVM, and CBER/USFDA have collaborated with Serum Institute to produce vaccines against Meningococcal A, H1N1 Influenza, Rotavirus, and other diseases.
Serum Institute of India – Name, Logo and Tagline
Serum Institute of India’s tagline says, “Serum – Protection from birth onwards”. The company is the world’s largest vaccine manufacturer and produces vaccines(including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines) that protect people from birth onwards.
Serum Institute Logo
Serum Institute of India – Founder and History
Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals that were in short supply in India and had to be imported at a high cost.
Founder of SII – Dr. Cyrus Poonawalla
Following that, many life-saving biologicals were produced at reasonable prices and in large quantities, resulting in the country being self-sufficient in Tetanus Anti-toxin and Anti-snake Venom serum, then DTP (Diphtheria, Tetanus, and Pertussis) vaccines, and finally MMR (Measles, Mumps, and Rubella) vaccines.
Vaccines against bacterial and viral infections, combined vaccines, influenza vaccine, and meningococcal vaccine were added to the company’s product line. Apart from vaccines, the company also produces antisera, blood plasma, and hormones. The Serum Institute of India’s vaccines has been used in international vaccination programs run by the World Health Organization (WHO), UNICEF, and the Pan American Health Organization as of 2014. (PAHO). The Poonawalla Group now runs the Serum Institute of India, which is involved in research, production, and manufacturing.
In 2009, the company started working on a swine flu vaccine that would be administered intranasally. Bilthoven Biologicals, a pharmaceutical firm in the Netherlands, was the company’s first foreign purchase in 2012.
The Serum Institute of India developed Rabies Human Monoclonal Antibody (RMAb), also known as Rabishield, with help from Mass Biologics of the University of Massachusetts Medical School in the United States.
CEO of SII – Adar Poonawalla
By 2020, the company will have developed 1.5 billion vaccine doses each year, making it the world’s largest vaccine manufacturer by amount of doses produced. Tuberculosis vaccine Tubervac (BCG), poliomyelitis vaccine Poliovac, and other childhood vaccines are among the products created.
Serum Institute of India – Covid 19 Vaccine Development
AstraZeneca, a British-Swedish multinational pharmaceutical firm, has teamed up with Oxford University to grow AZD1222. According to reports, Serum Institute will provide India and other low- and middle-income countries with 100 million (10 crores) vaccine doses.
By the end of 2021, the target had been raised to one billion doses. It’s expected to cost about $3 per dose or around 225 dollars. Trials were suspended by DCGI in September 2020 after a volunteer in Oxford became ill after being vaccinated, but were quickly resumed after British regulators agreed. The Serum Institute of India applied for emergency approval for the vaccine produced with AstraZeneca in December 2020, and it was granted a month later. A deal was reached in March 2021 to supply certain doses to the United Kingdom.
The Serum Institute of India has also agreed to produce Novavax’s NVX-CoV2373 vaccine for India and other low- and middle-income countries. Codagenix’s nasal COVID-19 vaccine CDX-005 will also be manufactured by the company (tradename COVI-VAC)
SII’s net sales in 2018-19 were Rs 5,238 crore, with an after-tax profit of Rs 2,252 crore. The compounded annual growth rate (CAGR) for revenue was 8.1 percent over five years (2014-2019), while the CAGR for profit after tax was 5.3 percent. In 2019, SII’s export earnings accounted for more than two-thirds of its net sales. At the end of 2019, it had total assets of Rs 16,703 crore.
The pharma giant AstraZeneca and the University of Oxford collaborated on the Covid-19 vaccine. Covishield has a 62 percent efficacy rate. The SII has already generated a stock of approximately 5 crore doses. By February, it claims to be able to increase production to 10 crore doses per month.
Serum Institute of India – Investments
Date
Organization Name
Round
Amount
Jul 23, 2019
X-Vax Technology
Series A
$56M
Oct 5, 2017
Visterra
Series C
$23.6M
Serum Institute of India – Acquisitions
Acquiree Name
About Acquire
Date
Amount
Nanotherapeutics
Privately held specialty biopharmaceutical company with product development, cGMP manufacturing capabilities
Biocon, Panacea Biotec, Bharat Serums, Wockhardt, Biological E, Bharat Biotech, Syngene International, Indian Immunologicals, Premas Biotech, Reliance Life Sciences, and Zydus Cadila are among the other leading competitors in Serum Institute’s competitive set.
Cadila Healthcare, India’s fifth largest pharmaceutical firm, is working on an indigenous vaccine for the novel coronavirus in addition to producing Covid treatment drugs like remdesivir. Phase-III trials on 26,000 Indian patients have been approved by the government. The vaccine’s price has yet to be determined by Cadila.
According to Poonawalla, the real challenge in 2020 will be determining if the Covid vaccine will actually function and be effective in humans. It was also difficult to demonstrate its effectiveness and plan a trial in a country where outbreaks are likely to occur, most likely China.
According to the CEO, “Our journey now is looking and has lot of challenges because we are trying to enter the Europe and US markets. We are trying to sensitize the Indian government to take more vaccines and plan and help them in their programmes to fight these life threatening diseases. We have got other challenges from China and other countries where we are offering a red carpet treatment for them to come here, but when we want to go to China, we have got a lot of barriers that we are facing like parting with our technology, we have got to do joint ventures things which are impossible.”
Serum Institute of India – Future Plans
As it struggles to fulfil supply obligations, the Serum Institute of India, which manufactures the AstraZeneca Covid-19 vaccine, is considering starting vaccine manufacturing in other countries.
“There’s going to be an announcement in the next few days,” Adar was quoted.
Poonawalla said the Serum Institute would be able to increase its monthly production to 100 million doses by July, a month later than the previous goal of end-May. Vaccines against Covid-19 have run out in some Indian states.
Within six months, he planned to increase the Serum Institute’s capability from 2.5 billion to 3 billion doses per year. He flew to London until Britain imposed an eight-day travel ban on Indians.
Serum Institute of India – FAQs
What does SII do?
Serum Institute of India is India’s leading biotechnology firm, producing highly advanced life-saving biologicals such as vaccines, antisera, and other medical specialties using cutting-edge genetic and cell-based technologies.
Who founded SII?
Dr. Cyrus Poonawalla established the Serum Institute of India in 1966 with the aim of producing life-saving immuno-biologicals that were in short supply in India and had to be imported at a high cost.
Facebook Inc on 30 April 2021 had announced that it is planning to roll out a new feature in its digital platform in India. The vaccination drive for the people above the age of 18 has been said to be started from the month of May.
The second wave of Covid-19 has been increasing significantly in the country with vaccination being given the most important priority at this moment. The new feature is a finder tool that will help India in the process of Covid-19 vaccination. Let’s look at how the new finder tool of Facebook will help India to vaccinate the people.
Facebook is an American based social media platform and social networking service. The company was launched in the year 2004. The digital platform is available in around 111 languages and available worldwide except in the countries where it is blocked.
As of December 2020, the company has around 2.8 billion monthly active users and during the 2010s Facebook was the most downloaded mobile app globally.
As of April 2021, there were around 406,100,000 users in India. It accounted for 28.9 % of the entire population of the country. The largest user group in the country was people aged in between 25 to 34 years. The majority of the users were men with around 74.5% of the users.
On 30 April 2021, Facebook Inc had announced that the company has partnered with the Government of India to introduce a new feature which will be a vaccine finder tool. The finder tool will be available on the mobile application of Facebook in India from this week.
The vaccine finder tool will be available in 17 different languages in India. The finder tool will help the people locate the nearest vaccine center and the operation time period of the vaccine centers according to the health ministry.
Additional features of the Tool
Facebook said in a statement that the new tool will help people in identifying the walk-in options as well for the people above the age of 45. It will also provide a link to register on the CoWin website in order to register and schedule the appointment for the vaccination.
The tool can be accessed in the Covid-19 information center. The Social media company also communicated that it is supporting the NGOs and UN agencies in India with ad credits. They are also providing insights and trying to help them reach the majority of the country through their digital platform with Covid vaccines and health information to prevent covid-19 infections.
Facebook has also committed with UNICEF India to provide health resources about when to seek emergency care and how to manage covid-19 with mild symptoms at home. The above information is available on the Covid -19 information center and the feed of Facebook’s platform.
The company said that on Instagram they are promoting this feature in the explore feature in the form of guides.
Instagram Covid Guide
In the last week of April 2021, the Chief of Facebook Mark Zuckerberg had announced a USD 10 million grant for covid-19 emergency response efforts in India. To deploy these funds the social media giant is partnering with the organizations such as US-India Strategic Partnership Forum (USISPF) and United Way, Swasth, Hemkunt Foundation.
The funds will mainly be used to access the critical medical supplies which include ventilators, increasing hospital bed capacity, BiPAP machines and 5000+ oxygen concentrators.
FAQ
What is Facebook’s net worth?
$279.95 billion is the net worth of Facebook as of 2021.
Who owns Facebook now?
Mark Zuckerberg is the founder and owner of Facebook.
What percent of Facebook does Zuckerberg own?
Mark Zuckerberg owns 29.3 percent of Facebook.
Conclusion
The covid-19 second wave has increased the number of cases in the country and this step from Facebook will be a great help for the Indian government and the citizens in the country. The vaccination drive is expected to be done in a smoother way.
Alan Joseph
