The Department of Biotechnology and the Biotechnology Industry Research Assistance Council had invited applications on the COVID-19 Research Consortium.
The statement said since the novel coronavirus has affected the lives of thousands of people on the planet, a preventive measure has become a necessity.
Efforts to find a coronavirus vaccine have already started globally
The company said it has also invested Rs 2,000 crore on its upcoming vaccine manufacturing facility with Special Economic Zone (SEZ) status in Pune.
Serum Institute of India has acquires a biopharma company Nanotherapeutics based in Czech Republic. This acquisition size is 72 million euros with the further investment required over the next two-three years for another 30-40 million euros.
As per Cipla's co-exclusive agreement with SII, the former will market the vaccine for adults while the latter will market it for adults and children, a company statement said.
At present, there is no dengue vaccine in India. Yesterday, it was reported that Serum Institute of India was planning to seek approval to launch a drug to treat dengue virus.
The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US Consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest ever real estate deal in the country's financial capital.
The brokerage says Cipla aims to grow its sales from USD 1.6 billion to USD 5 billion by FY20 (21 percent compounded annual growth rate - CAGR).
As per the agreement, Serum Institute of India (SII) will develop and manufacture paediatric vaccines and Cipla will seek European Medicines Agency approval and market the products in Europe, the company said in a statement.
On July 20, 2012 Serum Institute Of India bought 1,000,000 shares of Orchid Chemicals at Rs 127.10 on the NSE.
Suzlon Energy today said it has bagged an order from Serum Institute of India to supply 10 turbines of 2.1 MW capacity each for captive consumption.