The world’s largest vaccine maker is all set to invest £240 million for manufacturing in the United Kingdom, said British Prime Minister Boris Johnson on Monday.
The Prime minister’s office said in the official statement that the money invested will be used for clinical trials, research and development, and possibly manufacturing of vaccines as well.
Downing Street announced investment deals worth £1 billion with Indian companies to create employment, ahead of the U.K-India bilateral summit on Tuesday. The highest bid amongst these deals was by the Serum Institute India.
SII which produces the lower-cost AstraZeneca- Oxford vaccine, has already begun its phase one trials in the United Kingdom of a one- dose nasal vaccine in partnership with Codagenic INC.
SII makes around 60-70 million AstraZeneca doses per month and aims at producing 100 million by July.
Earlier this week, Adar Poonawalla, the chief executive of SII, faced criticism for leaving India amid threat calls before Britain red listed India. He reassured that the production of Covishield was in full swing in Pune.
Meanwhile, India faces the wrath of the deadly second wave of the pandemic and has begun the third phase of inoculation drives. Many countries have offered to help with supplies to help India return to normalcy.