Adar Poonawala led-Serum Institute of India (SII) is gearing up to include its newly launched HPV (human papillomavirus) vaccine targeted towards cervical cancer in India’s Universal Immunization Program (UIP) later this year. The vaccine, developed over eight years, is also set to be exported to global markets starting in 2026-27.
“This is another very important, critical vaccine that we worked on for about eight years. We finally got it licensed, and we’re going to give it to the govt's Universal Immunization Program later this year, followed by exporting it to other countries in 2026-27,” said CEO Poonawalla, during a recent interview with Moneycontrol at World Economic Forum (WEF) 2020 in Davos.
The institute is also working on vaccines for mosquito-borne diseases such as chikungunya, dengue, and malaria, with some already launched while others set to launch within the next two years.
“With climate change and construction activities in many developing countries, mosquito-borne viruses like yellow fever are spreading. We’re working towards tackling these issues,” Poonawalla added.
Price controls
While discussing the financial constraints of the vaccine industry, Poonawalla called for relaxing price caps to encourage innovation and growth.
“Our industry doesn’t want to burden the government with incentives, but we would encourage a dialogue to relax certain price controls. Today, other industries are flourishing and making billions in profits. Meanwhile, the vaccine industry, which is critical, doesn’t even make a billion dollars combined annually,” he said.
He emphasised that reasonable profits are essential to drive research and development and reduce dependence on partnerships with foreign entities. “If we make reasonable profits, we can develop our own vaccines and technologies rather than relying on the partnership model, as we did with COVID-19 and other diseases like chikungunya and dengue,” he explained.
Navigating global tariffs
Poonawalla addressed concerns about global trade policies, including the Trump administration’s tariffs, which have pushed for manufacturing in the U.S. However, he downplayed the impact on SII.
“Indian vaccine manufacturers don’t sell many products in the U.S., so it doesn’t affect us much. Additionally, we’ve built capabilities in India, aligning with Prime Minister's vision of self-reliance. The Government of India has created a favorable environment for us to expand,” he noted.
Beyond vaccines
The CEO also reflected on SII’s diversification into entertainment and other sectors. Poonawalla's Serene Productions will invest Rs 1,000 crore into Dharma Productions and Dharmatic Entertainment for a 50 percent stake in the company.
“The investment in Dharma Productions was born out of a passion for storytelling. We plan to expand into verticals like music labels and distribution while continuing to focus on making quality films,” he said.
Regarding strategic investments, he explained, “Every four to five years, I like to divest or exit certain investments, churn the portfolio, and create liquidity for future opportunities.”
Work ethic and balance
Addressing the recent debate around long working hours, Poonawalla advocated for hard work but highlighted the importance of balance and smart strategies.
“It all depends on your entrepreneurial journey. Many young entrepreneurs have to put in a lot of hours. During the COVID-19 pandemic, I worked until 11 p.m. daily. But productivity drops after seven to eight hours. That’s why we operate in shifts to ensure efficiency while maintaining work-life balance. Different companies and industries have their own models. You need to work smart and have a balanced view,” he said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
