Serum Institute firms up £240-mn investment in UK

London The Serum Institute of India will invest GBP 240 million in the UK to expand its vaccine business and set up a new sales office creating a large number of jobs, Downing Street has announced as part of plans for a GBP 1 billion India-UK Enhanced Trade Partnership creating around 6,500 jobs in Britain. The Pune-based vaccine manufacturer is among a list of nearly 20 Indian companies across sectors such as healthcare, biotech and software services to announce significant investment plans in the UK.

It was also revealed that the Serum Institute of India (SII) has started phase one trials in the UK of a nasal vaccine against coronavirus. "The sales office is expected to generate new business worth over $1 billion, GBP 200 million of which will be invested into the UK," Downing Street said on Monday in reference to SII's plans for the UK market.