Mumbai, Oct 31 (PTI) Pune based Serum Institute ofIndia, a part of Cyrus Poonawalla Group today said it islooking at achieving revenues of Rs 10,000 crore in the nextfive years period through new launches and expandingfootprints in Europe and US.
"We are growing at 30 per cent CAGR and achievedrevenue of Rs 4,000 crore last year. We are hoping to be Rs10,000 crore company in the next five years period.
"We have launched Rotasiil vaccine and Rabishield,Rabies monoclonal antibody which will help us in achieving 30per cent growth this year. We will launch more vaccines incoming years," Serum Institute Chief Executive Officer AdarPoonawalla told reporters here.
The company is also developing vaccine and drug fordengue fever. It has commenced first phase of trials inSingapore and hopes to launch vaccine in 2020, Poonawallasaid.
The world's largest manufacturer of vaccines said, itsells about 1.3 billion doses a year globally across 147countries. The company is now looking at expanding itsfootprints in Europe and US market, he said.
In a major breakthrough, Serum Institute todayannounced unveiling of its much-awaited Rotasiil vaccine andRabishield, Rabies monoclonal antibody.
Rabishield has been developed in research partnershipwith Massachusetts Medical School, US.
The availability of Rotasiil and Rabishield worldwidewill help reduce deaths caused due to Rotavirus and Rabieswhich cause fatal diseases, Poonawalla said.
The newly developed Rabishield is the world's firstrecombinant rabies monoclonal antibody, which will helpprevent Rabies, a 100 per cent fatal disease which does nothave cure till date, but is almost 100 per cent preventable.
Rabies is reported to cause two deaths every hour inIndia. It is transmitted to humans after an exposure throughbites or scratches from both domestic and wild animals.
"Our new drug - Rabishield - is a first-of-its-kindproduct for passive immunisation against Rabies. Since the newdrug will be 25 per cent cheaper than the existing rabiesimmunoglobulins, it would meet the needs of the poorcountries," Poonawalla added.
Rotasiil is the world's first thermostable pentavalentRotavirus vaccine containing the G9 strain to help prevent thespread of Rotavirus which causes Diarrhoea mostly in babiesand is often accompanied by vomitting and fever, leading tosevere dehydration. It is reported that around 100,000rotavirus related deaths occur in the country.
According to Poonawalla, "Scientists have been workingon this Rotavirus vaccine for the last eight years. We haddecided to develop a heat-stable vaccine to overcome theabsence of cold-chain in many poor countries." PTI APRMT.
This is unedited, unformatted feed from the Press Trust of India wire.