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SII estimates loss of 1,000 crore, Covishield production unaffected

PUNE A day after a major fire broke out at Serum Institute of Indian (SII) on Thursday afternoon, the institute estimated a loss of 1,000 crore and also assured that no damage was reported to the Covid-19 vaccine ‘Covishield’
By Steffy Thevar
PUBLISHED ON JAN 22, 2021 10:52 PM IST

PUNE A day after a major fire broke out at Serum Institute of Indian (SII) on Thursday afternoon, the institute estimated a loss of 1,000 crore and also assured that no damage was reported to the Covid-19 vaccine ‘Covishield’.

The losses were estimated based on the future vaccine production of rotavirus and BCG and the machinery damaged in the fire. The building which reported the fire was a new facility where no vaccine production had started clarified SII.

Uddhav Thackeray, chief minister, who visited the institute on Friday, said, “Amidst the pandemic, SII’s vaccine production is a ray of hope and so when the news came that a fire had broken out, it was shocking. Unfortunately, five people have been reported dead.”

“After inspection and based on the information that I have got I can say that the vaccine doses production and the stockpile at the storage facility remained unaffected,” he said.

Adar Poonawalla, chief executive officer, SII, said, “We are estimating the extent of the damage to be more than 1,000 crore because of the equipment damaged and the product that was going to be launched over there. Fortunately, we have got multiple facilities and as the CM explained Covid vaccine remains unaffected.”

“The new products that were to be launched and sent to other countries, Rotavirus and BCG vaccines, will be affected greatly. However, for that too we will try to fulfil the gap through our other facilities. Mainly the loss is financially and will not affect the supply,” he said.

Cyrus Poonawalla, chairman and founder, SII, said, “The building which caught fire had not yet started the production which was to start later. Therefore no vaccine was stored there. If the fire was reported from the building where the vaccine was stored it could have been greater damage.”

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