Elon Musk Might Invest in India, According To Adar Poonawalla

Date:

Serum Institute of India Pvt. Ltd. is presently the world’s largest vaccine maker, with more than 1.5 billion doses produced and marketed worldwide, including Polio vaccine, Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, and Rubella vaccines. Around 65 percent of the world’s children are anticipated to receive at least one vaccine produced by Serum Institute. The World Health Organization in Geneva has recognized the Serum Institute’s vaccines, and they are utilised in over 170 nations throughout the world in their national immunization programmes, saving millions of lives.

Serum Institute of India is India’s No. 1 biotechnology business, producing highly specialized life-saving biologicals such as vaccines, antisera, and other medical specialties utilising cutting-edge genetic and cell-based technologies. Dr. Cyrus Poonawalla started the Serum Institute of India in 1966 with the goal of producing life-saving immuno-biologicals that were in low supply in India and had to be imported at exorbitant prices. Following that, several life-saving biologicals were manufactured at affordable prices and in large quantities, resulting in the country becoming 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.

The company’s philanthropic attitude is still alive and well, with modern vaccinations like Hepatitis-B vaccine, Combination vaccine, and others being brought down in price so that not only Indians, but all underprivileged children throughout the world are protected from birth.

Serum Institute of India’s chief executive officer (CEO) ¬†Adar Poonawalla (born 14 January 1981). It was founded by his father, Cyrus Poonawalla, in 1966 and is the world’s largest vaccine maker in terms of doses manufactured. Adar Poonawalla attended The Bishop’s School in Pune, St Edmund’s School in Canterbury, and the University of Westminster after that. Poonawalla graduated from university in 2001 and joined the Serum Institute of India. Poonawalla then focused on expanding the company’s worldwide business, obtaining new product licences, and becoming pre-qualified by the World Health Organization for supply to UN agencies such as UNICEF and PAHO. He has assisted the company in exporting its products to over 140 countries and 85 percent of its revenues are from overseas as of 2015.

He was named CEO in 2011. He was instrumental in the acquisition of Bilthoven Biologicals, a government vaccine manufacturing company based in the Netherlands, in 2012. Poonawalla is a member of the worldwide vaccine alliance, the GAVI Alliance. He developed and marketed Serum Institute’s oral polio vaccine in 2014, which became a corporate bestseller. During the same year, it was stated that he sought to expand the product range to include vaccinations for dengue, flu, and cervical cancer. He is currently the CEO of the Serum Institute of India. He was named chairman of Magma Fincorp on May 31, 2021, after acquiring a 66 percent share in the financial services company.

Poonawalla stated in an interview with ‘The Times’ that he fled India for London due of threats seeking COVID-19 vaccines. Poonawalla also stated that, in addition to the current production in India, he will begin producing Covid vaccines outside of the country. As soon as the threats were made public, the Indian government supplied him with ‘Y’ level protection. SII stated in 2020 that it would donate $66 million to the University of Oxford to help support the Poonawalla Vaccines Research Building’s construction.

Adar Poonawalla receives the Business Leader of The Year award at the Economic Times Awards
Adar Poonawalla, CEO of Serum Institute of India receives the Business Leader of The Year award at The Economic Times Awards for Corporate Excellence 2021 held in Mumbai on 7 May 2022. At The Economic Times Awards for Corporate Excellence 2021, Serum Institute of India CEO Adar Poonawalla was named Business Leader of the Year, while software giant Infosys NSE -2.67 percent was named Company of the Year. Finance Minister Nirmala Sitharaman was named Business Reformer of the Year by an 11-member select jury led by Kotak Mahindra NSE 2.17 percent Bank MD & CEO Uday Kotak. The pharma and technology sectors dominated nominations for India’s prestigious NSE 0.93 percent business awards, which began in 1998, as the Covid-19 outbreak loomed large over the past two years.

Elon Musk might invest in India to manufacture Tesla automobiles, according to Adar Poonawalla
Adar Poonawalla of the Serum Institute of India (SII) has invited Tesla CEO Elon Musk to invest in India for large-scale Tesla automobile production if his $44 billion Twitter deal falls through. According to Forbes magazine, Musk is the world’s richest person, running Tesla Inc., The Boring Company, and SpaceX. In April, SpaceX CEO Elon Musk announced a $44 billion deal to buy Twitter. After the acquisition, Twitter will become a privately held firm, according to the company’s announcement. Musk is now in talks with investors to raise money for his $44 billion purchase of Twitter. In one of the world’s largest leveraged buyouts, he intends to complete his $54.20 per share Twitter takeover this year.

Musk should explore investing funds in India for high-quality large-scale manufacturing of Tesla cars, according to Poonawalla, if he does not wind up buying Twitter. Musk was also promised by Poonawalla that this would be the best investment he has ever made. “Hey @elonmusk just in case you don’t end up buying @Twitter, do look at investing some of that capital in INDIA for high-quality large-scale manufacturing of @Tesla cars. I assure you this will be the best investment you’ll ever make,” Poonawalla tweeted.

Elon Musk’s Twitter buy-in was sponsored by worldwide crypto exchange Binance, among other important names, according to a Securities and Exchange Commission (SEC) filing on Thursday. Binance, which is founded by Changpeng Zhao, contributed $500 million to Musk’s takeover of Twitter. Sequoia Capital, Fidelity Management, Qatar Holding, and many more were also involved in the transaction. Larry Ellison, a Tesla board member and Musk’s self-described close buddy, has pledged $1 billion to the fund. According to the SEC filing, Sequoia put in $800 million, while Fidelity put in $316,139,386. A.M. Management & Consulting, Andreessen Horowitz (a16z), created by Marc Andreessen and Ben Horowitz, Brookfield, Honeycomb Asset Management LP, Litani Ventures, and others were among the investors who took part.

 

 

Share post:

Subscribe

Popular

More like this
Related

Lumpy skin disease is killing thousands of cows across India.

Lumpy skin disease caused by the lumpy virus is...

What is copywriting and how it can supercharge your sales with words

The headline of this article is not like other...

Tata motors Durga puja TVC touches all the right emotions. Plus the new Electic vehicle by Tata motors.

As the festive season approaches a lot of companies...