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Covid-19 Jab At Rs 250 Puts Vaccine Man In Dharm-Sankat

The Covid-19 vaccination drive is gathering momentum across India. But the Centre’s decision to cap the vaccine price at Rs 250 at the private hospitals has increased worries of Serum India Institute which has a large inventory of Covishield vaccine. The company is expected to take a big hit in its balance sheet. This has been a serious issue for debate within SII. Cyrus Poonawalla, Chairman of Poonawalla Group, which includes SII, holds that SII should focus on its traditional business of production of the immunobiologicals, which were imported into India at high prices, instead of ramping up of Covishield vaccine which is priced way below their expectations. Poonawalla Senior belongs to the generation that continues to believe in the Old is Gold strategy. Moreover, the Centre is yet to issue guidelines for its exports. However, Poonawalla’s son and SII CEO Adar Poonawalla believes that despite a temporary hit in the balance sheet, the company can still offset the losses once the exports are allowed. He is the CEO of Industry 5.0 generation and wants to chart his path that will be followed by others. So, father and son are now engaged in brainstorming. We will have to wait to see whose strategy finally pays off.