Cyrus Poonawalla
Chairperson & managing director, Serum Institute of India
Age: 79
Rank in the Rich List
Net Worth: $11.5 billion
The Big Challenges Faced in the Last Year: Receiving requisite permissions for developing new products or getting into trials, buying the latest technology, and registering products globally
The Way Forward: Focus on building quality infrastructure, talent and skilled workforce
When the coronavirus pandemic broke out earlier this year, Adar Poonawalla, CEO of Serum Institute of India, the world’s largest vaccine maker by the number of doses produced and sold, weighed the options: “Do absolutely nothing and watch how it unfolds, or take the risk and become a front-runner.”
The 39-year-old chose the latter and went on a deal-making frenzy, which has put the privately held firm at the forefront of the global race to develop a Covid-19 vaccine, he says in a telephone interview in late September from the company’s Pune headquarters, the latest of two interviews for this article. His father, Cyrus Poonawalla, worth $11.5 billion, founded the Serum Institute in 1966 and remains its chairman. “It’s a huge personal risk I am taking,” says Poonawalla. The firm, he says, is investing $800 million to help find, and then produce a vaccine, and has already spent $300 million of that.
Denne historien er fra November 20, 2020-utgaven av Forbes India.
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Denne historien er fra November 20, 2020-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
