| Title | Serum Institute of India |
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Description
(from Freebase) |
Serum Institute of India is a manufacturer of immunobiologicals including vaccines in India. The company is managed by the Poonawalla group- fully owned by Cyrus Poonawalla. The company is the fifth biggest vaccinemaker by volume, the top four being GlaxoSmithKline, Sanofi-Aventis, Merck and Novartis. Half the children in the world are immunized by vaccines made by the company, which is the world's biggest maker of measles and DTP vaccines. Serum produces a billion doses a year selling in 140 countries. It is one of the world's lowest cost producers of vaccines and had sales of $250 million and net profits of $107 million. The Serum Institute of India was founded by Cyrus Poonawalla and his brother Zavary in 1966. Poonawalla sold horses to raise the initial $12,000 needed to start the company. Using the money and a 12-acre (49,000 m) lot used to bury horses, the brothers founded the company. Because they had no science background, they hired 10 doctors and scientists from the Haffkine... |
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