One of the leading vaccine producers Serum Institute of India is planning to establish its first manufacturing unit in Africa as it tries to double down on its success after selling COVID-19 vaccines across the globe, according to CEO Adar Poonawalla.

During the worst phases of the pandemic in the last two years, Africa was the only continent without its production facility for COVID-19 shots, leaving it at the mercy of international suppliers, including the SII.

At the World Economic Forum in Davos, Poonawalla mentioned that there could not be a better time to start a vaccination company in Africa and is exploring plans to expand manufacturing operations worldwide.

When asked about potential investments, the CEO replied that such projects usually required at least USD 300 million, although he didn't clarify what vaccines an African facility would be capable of producing. It is worth mentioning that the Serum Institute produces vaccines for BCG, diphtheria, rubella, measles, and other diseases in India.

With regards to the recent spike in monkeypox illness, Poonawalla claimed that the infection was not as transmissible as it appears to be and thus vaccines for the same will be made if necessary.

In the case of COVID-19, the Serum Institute has distributed over 1.5 billion doses of the AstraZeneca vaccine named Covishield in India and exported millions more. However, as demand has dwindled, the company has placed its Covishield operations on halt and plans not to produce any products in India.

Serum Institute has also canceled other plans of producing roughly 300 million doses of Russia's Sputnik Light COVID-19 vaccine given the plunging demand. However, it will continue to produce millions of shots of a modified Novavax COVID antibody for India and other nations.

The CEO estimated that Serum Institute’s current market value is around USD 20 billion although there are no plans for a stock market debut yet.

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