ABOUT SERUM INSTITUE OF MEDICAL
Serum Institute of India is an Indian biotech and pharma company. It is the world’s largest vaccine manufacturer. It is located in Pune city of India, and was founded in 1966 by Cyrus Poonawala. The company is a subsidiary of the holding company Poonawala Investment and Industries.
ABOUT CYRUS POONAWALLA
Cyrus Poonawala is an Indian businessman and philanthropist who heads the Cyrus Poonawala Group, which includes the Indian biotech company, Serum Institute of India. He is also known as the “Vaccine King of India“, as his firm produces pediatric vaccines and contributes to society by providing low-cost vaccines to the general public. As a philanthropist, he supplied 100 thousand doses of measles vaccines for free vaccination in Ukraine in partnership with Naum Kon, a free trader in Ukraine. As of October 2020, they have an estimated net worth of $ 11.50 billion
CYRUS POONAWALLA- EARLY LIFE
Cyrus was born into a Parsi family and his father was a horse-breeder. The family owned a horse racing business and was the owner of the Poonawala stud farm. He married Villu Poonawala, who died in 2010 from cardiac arrest. He has two sons, Adar Poonawala, who currently serves as the CEO of Serum Institute of India.
Cyrus completed his early education at Bishop’s School, Pune. He completed his undergraduate Brihan Maharashtra College of Commerce (BMCC) in 1966. He received his PhD from the University of Pune in 1988, which he called for “superior technology in the manufacture of specific anti-toxins and its socio-economic impact on society”.
CYRUS POONAWALLA- WORKING LIFE
At the age of 20, Cyrus realized that her family business of horse racing had no future. He then began experimenting with cars and with a friend built a $ 120 prototype sports car modeled on a D-Type Jaguar. They did not have sufficient capital to produce such cars on a commercial basis.
Thus he abandoned the idea and idea of building cars to target the elite community of society. At the time, the horses were donated to the Hafkin Institute in Mumbai, a state-owned company that manufactured vaccines using horse serum.
CYRUS POONAWALLA- BUSINESS JOURNEY IDEA
Cyrus noticed this in the cirrus industry and decided to challenge the production of vaccines by removing horse serum. He aimed to take advantage of these vaccines and supply them nationwide at affordable prices.
He, along with his brother Zavare, raised $ 12,000 by selling horses and requested his father to contribute the necessary capital. In 1966, he finally established his venture on a 12-acre plot and started manufacturing vaccines.
CYRUS POONAWALLA- CYRUS POONAWALLA GROUP
Cyrus founded the Cyrus Poonawala Group and served as its president. The biotech firm, Serum Institute of India is also founded by him and is a portal of the group. The Cyrus Poonawala Group of companies operates in pharmaceuticals and biotechnology, finance, clean energy, hospitality and reality, and aviation. The company is headquartered in Pune, India.
Cyrus founded the Cyrus Poonawala Group and served as its president. The biotechnology firm, Serum Institute of India is also founded by him and is a portal of the group. Cyrus Poonawala works in a group of Pharmaceuticals and Biotechnology, Finance, Clean Energy, Hospitality and Reality and Aviation. The company is headquartered in Pune, India.
CYRUS POONAWALLA- SERUM INSTITUTE OF INDIA
Cyrus established the Serum Institute of India (SII) in 1966 with the aim of producing life-saving immuno-biologicals in India. The company is recognized as India’s No. 1 biotechnology firm with the world’s largest vaccine manufactured, produced and sold worldwide.
The company launched its first therapeutic anti-tetanus serum within two years of establishment. Gradually he started manufacturing the DTP vaccine, Measles vaccine. SII is currently India’s leading biotech company and is currently exporting vaccines to more than 140 countries worldwide.
His son, Adar Poonawalla, began working as CEO of SII from 2011 and expanded the business with new licenses and pre-qualified products by the World Health Organization (WHO) to supply to United Nations agencies.
|Name||Cyrus S. Poonawalla|
|Education||Brihan Maharashtra College of Commerce|
|Position||Chairman of Poonawalla Group; Founder of Serum Institute of India|
|Net worth||$11.50 billion (October 2020)|
|Awards||Padma Shri (2005)|
CYRUS POONAWALLA- ACHIVEMENTS
1)On 26 June 2019, he was awarded an honorary doctorate of science by the University of Oxford.
2)On 3 June 2018, he was awarded an honorary degree of Doctor of Humane Letters by the University of Massachusetts Medical School.
3)On 5 February 2015, he received Ernst & Young “Entrepreneur of the Year 2014”.
4)On 20 November 2007, he received the Ernst & Young “Entrepreneur of the Year 2007” under the Healthcare and Life Sciences category.
5)He received the Padma Shri, the fourth highest civilian award by the President of India in 2005.
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