InvestorQ : Why has Poonawalla of Serum urged Biden to lift the embargo on export of vaccine raw materials?
Aashna Tripathi made post

Why has Poonawalla of Serum urged Biden to lift the embargo on export of vaccine raw materials?

Answer
image
Aditi Sharma answered.
4 weeks ago
Follow

To hasten the process of making and supplying vaccines to stem the spread of COVID, the head of Serum Institute, Adar Poonawalla, urged Joe Biden to lift the current embargo on export of vaccine raw materials. The restriction has substantially hit the production of vaccines in India. He has urged that as the only means of producing more vaccines. Serum imports raw materials like filters, bags, media solutions from the United States.

Apparently, these US restrictions were hampering production and the scale up of the Novavax vaccine facility at Pune in collaboration with Novavax of the US. The idea is to supply the vaccine at $3 per dose, both to India and globally. Serum targets output of 50 million doses of Novavax vaccine per month but that is only possible if embargo is lifted. The US has invoked the Defence Act and banned export of raw materials.


0 Views