Serum Institute Pegs Losses Due To Fire At Over Rs 1,000 Crore
Adar Poonawalla, CEO, Serum Institute of India Ltd. (Photographer: Dhiraj Singh/Bloomberg)

Serum Institute Pegs Losses Due To Fire At Over Rs 1,000 Crore


The Serum Institute of India Ltd. said it has suffered losses of over Rs 1,000 crore due to the devastating fire that erupted a day before at its premises here, even as Maharashtra Chief Minister Uddhav Thackeray said that whether the blaze was an accident or sabotage will be known once the probe gets over.

Five contractual labourers died in the fire that broke out in a five-storey building in the Serum Institute's Manjari premises in Pune on Thursday.

The chief minister visited the Serum Institute on Friday to take stock of the damages.

"The extent of the damage is more than Rs 1,000 crore because of the equipment and products over there that were to be launched," Chief Executive Officer, Adar Poonawalla, said.

He, however, reiterated that the Covishield vaccine production has not been impacted due to the blaze.

"Fortunately, we have got multiple facilities and as CM sir has explained, the Covid-19 vaccine's supply will not be affected due to the incident," Poonawalla added.

We were very lucky that the incident took place in the building where the Covid-19 vaccine was not being stored. It has happened where other vaccines are being produced and we will make up that production.

He added that the facility meant for Rotavirus and Bacillus Calmette–Guérin vaccines has suffered major damages in the fire.

"But we will try and make up the supply gap in our other facilities. Mainly, the loss is financial and there will not be any loss in terms of supplies," the SII CEO said.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.