Skip to content
Search

Latest Stories

Submit Guest Post

Serum Institute to invest £50m in Britain's Oxford Biomedica

Serum Institute to invest £50m in Britain's Oxford Biomedica

BRITISH firm Oxford Biomedica on Wednesday (22) said that Serum Institute of India (SII) will invest £50 million ($68m) in the company to help fund the development of a plant that manufactures Covid-19 shots.

Serum - the world's largest vaccine manufacturer by volume - and Oxford Biomedica both produce AstraZeneca's Covid-19 vaccine.


Serum Life Sciences Ltd, a unit of India-based SII, will pick up a 3.9 per cent stake in Oxford Biomedica as part of the deal.

Oxford Biomedica, spun off from Oxford University in 1995, said it would use the funds to develop the fallow area at its Oxbox plant into a manufacturing space expected to come online in mid-2023.

The Oxbox plant currently makes Covid-19 shots, and the new space is expected to include a capacity to produce viral vector-based products including vaccines, Biomedica said.

Shares of the British firm were up 5 per cent on the London Stock Exchange on Wednesday.

Serum's investment comes four months after Oxford Biomedica doubled its sales estimates from the AstraZeneca shot to more than £100m by 2021-end.

A representative for SII did not immediately respond to Reuters' request for a comment.

For Serum, the deal is the second in as many weeks, following its planned purchase of a 15 per cent stake in Indian drugmaker Biocon's biologics unit.

The Oxford-based company said on Wednesday it swung to a profit after its half-yearly revenue more than doubled.

(Reuters)

Add EasternEye As Your Trusted Source
preferred source on google news

More For You

Musk's SpaceX-Tesla merger
Elon Musk
Getty Images

What could a SpaceX-Tesla merger mean for Tesla and its investors?

  • SpaceX and Tesla have formed independent committees to explore a possible merger, with Musk saying the idea has merit but is not certain to happen.
  • A combined business could bring electric vehicles, rockets, satellites, AI and robotics under one corporate roof, but investors would need to assess how the deal is structured and priced.
  • Tesla shareholders would face a major decision over whether the potential benefits justify the risks of joining a much broader business empire.

Elon Musk’s proposal to combine SpaceX and Tesla could reshape the electric carmaker’s future, giving it closer access to rocket technology, satellite connectivity and artificial intelligence infrastructure. But for Tesla investors, the central question is whether the merger would create lasting value or expose the company to new financial and governance risks.

Musk said on Tuesday (20) that both companies had established special committees of independent directors to examine a possible tie-up. He supports the idea, citing opportunities to cooperate on AI software, chip design, robotics and connectivity. However, he cautioned investors against treating a merger as inevitable. The committees have yet to agree on transaction terms, and any proposal would need shareholder approval.

Keep ReadingShow less