Serum Institute acquires Czech polio vaccine firm for 72 mn euros
Serum Institute of India on Tuesday acquired the defunct unit in Czech of Florida-based Nanotherapeutics that makes injectable polio doses for 72 million euros.
The acquisition would catapult the Pune-based company to the largest injectable polio vaccine maker in the world with over 200 million doses, a senior official claimed.
The plant at Bohumil, which is one hour off the Czech Republic capital Prague, is not functional now and Serum Institute will have to invest an additional 30-40 million euros to make it functional, Serum Institute of India's Chief Executive Officer Adar C Poonawalla told PTI.
Poonawalla said the company has already paid 45 million euros for the plant and the remaining will be paid one year later.
Serum Institute is the world's largest vaccine manufacturer by number of doses produced and sold globally.