• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
Serum Institute of India

India’s COVID vaccine maker was supposed to supply the world. Now those plans are delayed

Grady McGregor
By
Grady McGregor
Grady McGregor
Down Arrow Button Icon
Grady McGregor
By
Grady McGregor
Grady McGregor
Down Arrow Button Icon
February 22, 2021, 5:08 AM ET
Adar Poonawalla, CEO of the Serum Institute of India, at the company’s Hadapsar plant in Pune, India, on Jan. 22, 2021. Serum, the world’s largest vaccine maker by volume, has an agreement with AstraZeneca to produce at least 1 billion doses of its COVID-19 vaccine, developed in partnership with the University of Oxford.
Adar Poonawalla, CEO of the Serum Institute of India, at the company’s Hadapsar plant in Pune, India, on Jan. 22, 2021. Serum, the world’s largest vaccine maker by volume, has an agreement with AstraZeneca to produce at least 1 billion doses of its COVID-19 vaccine, developed in partnership with the University of Oxford.Dhiraj Singh—Bloomberg/Getty Images
Add Fortune on Google for similar content.

Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today.

The Serum Institute of India, one of the world’s largest vaccine makers, announced on Sunday that it would manufacture vaccines for India before doses earmarked for the rest of the world, a move that may delay vaccine shipments to dozens of countries and hamper the firm’s plans to share its vaccine supply.

“Dear countries & governments,” Adar Poonawalla, CEO of the Serum Institute, wrote on Twitter on Sunday. “I humbly request you to please be patient, [the Serum Institute of India] has been directed to prioritize the huge needs of India and along with that balance the needs of the rest of the world. We are trying our best.”

Poonawalla did not disclose who—India’s government or someone else—had directed the Serum Institute to put domestic doses above those being sent elsewhere.

Subscribe to Eastworld for weekly insight on what’s dominating business in Asia, delivered free to your inbox.

India last month launched a campaign to vaccinate its 1.6 billion people, a feat that’s especially urgent since the country ranks second behind the U.S. in confirmed COVID-19 cases. It has 11 million infections, with 156,000 deaths.

The Serum Institute did not respond to Fortune’s request for comment.

The Serum Institute is critical to supplying the world with COVID-19 vaccines. It said in January that it has the capacity to produce 1.5 billion vaccine doses in 2021 with plans to ramp up annual capacity to 2.5 billion doses by the end of the year. The Serum Institute’s manufacturing capacity is already outpacing that of its rivals. It’s currently producing 70 million shots per month compared with the 20 million doses Pfizer is producing per month in the U.S.

In June 2020, the Serum Institute struck a deal with firm AstraZeneca to manufacture 1 billion doses of the British pharmaceutical firm’s COVID-19 vaccine, which has demonstrated efficacy rates between 62% and 90% in Phase III clinical trials. From the start of the partnership, the Serum Institute pledged to share the vaccines with non-wealthy nations.

Poonawalla reiterated Serum’s global pledge in a joint statement with fellow Indian vaccine maker Bharat Biotech in January 2021.

“We are fully aware of the importance of vaccines for people and countries alike. We hereby communicate our joint pledge to provide global access for our COVID-19 vaccines,” the two companies said in a statement.

The Serum Institute’s version of the AstraZeneca vaccine, called Covishield, has been approved in 11 countries, including Bangladesh, Nepal, Morocco, and South Africa. The World Health Organization (WHO) also approved the Covishield vaccine for emergency use on Feb. 16, clearing a path for the vaccine to be deployed in the WHO’s COVAX initiative, a global vaccine program aimed at providing access to vaccines in lower- and middle-income countries.

Earlier this month, the WHO said it expected the Serum Institute to supply 240 million doses of Covishield to COVAX in the first half of 2021. As part of COVAX, the WHO said that 97 million of the Serum doses would stay in India, with the remaining supplies sent abroad.

The Serum Institute last week announced that it would supply an additional 1.1 billion doses to COVAX as part of a separate vaccine partnership with American vaccine maker Novavax.

It is unclear if or how Poonawalla’s Sunday declaration will hinder the Serum Institute’s ability to make good on those promises.

In September 2020, Poonawalla told Fortune that he was ready to take on the challenge of providing the world with better access to COVID-19 vaccines.

“[It’s a] scary responsibility that I kind of feel I’m carrying on my shoulders—that is driving me every day to do things quicker,” Poonawalla said. “[But] now I’m very used to it. In fact, it has helped and motivated me.”

About the Author
Grady McGregor
By Grady McGregor
LinkedIn iconTwitter icon
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in International

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
15 hours ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
3 days ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
1 day ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
2 days ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
12 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.