"Making Profit, But Not Enough To Reinvest," Says Adar Poonawalla
The Serum Institute - makers of the Covishield vaccine - needs around Rs 3,000 crore to scale up production, CEO Adar Poonawalla told NDTV. "We are supplying the vaccine in the Indian market at approximately Rs 150-160. The average price of the vaccine is approximately $20 (Rs 1,500)... because of the Modi government's request, we are providing vaccines at subsidised rates... It is not that we are not making profits... but we are not making a super profit, which is key to re-investing," Mr Poonawalla told NDTV.
