Serum Institute of India Pvt. Ltd.

What Serum Institute of India Pvt. Ltd. does

Serum Institute of India Pvt. Ltd. (SII) is the world's largest vaccine manufacturer by number of doses produced and sold, manufacturing 1.5+ billion doses annually at its Pune headquarters (212/2 Hadapsar) and the 42-acre Poonawalla Bio-Tech Park in Manjari, with European manufacturing via wholly-owned Bilthoven Biologicals B.V. (Netherlands, acquired 2012) and a UK subsidiary (Serum Life Sciences Ltd). Founded in 1966 by Dr. Cyrus S. Poonawalla, the company is privately held within the Cyrus Poonawalla Group and is led by CEO Adar C. Poonawalla. SII operates a multi-platform technology stack spanning recombinant DNA, polysaccharide-conjugate, viral vector (ChAdOx1 adenovirus licensed from Oxford), virus-like particle (VLP) expressed in Hansenula polymorpha yeast, baculovirus expression, live-attenuated, and cell-culture manufacturing, supported by automated vial filling lines at 500 containers/minute and WHO-cGMP compliant biopharmaceutical facilities. Its product portfolio includes COVISHIELD, COVOVAX, CERVAVAC (India's first indigenous qHPV vaccine), PNEUMOSIL, ROTASIIL, HEXASIIL, MenFive, MenAfriVac, R21/Matrix-M malaria vaccine, GeneVac-B, RABIVAX-S/Rabishield, ONCO-BCG, Poliovac, NASOVAC-S, Tresivac, REPOITIN, and the SIILTIBCY/Cy-Tb tuberculosis skin test.

The business model combines institutional vaccine product sales to UNICEF, Gavi, WHO, PAHO and national immunization programs across ~170 countries under philanthropic pricing (e.g., $2.00/dose Pneumosil, $1.75/dose pentavalent); contract manufacturing and technology licensing with Oxford, Novavax, Bavarian Nordic, ImmunityBio, Valneva, KM Biologics, Merck, and others generating royalties and milestones; grant-funded outbreak preparedness R&D from CEPI, Gavi, BMGF and Wellcome; bulk antigen and intermediate B2B supply (e.g., Matrix-M adjuvant, AstraZeneca COVISHIELD bulk, Merck PCV); and a domestic India pharmaceutical and diagnostics business via its Mumbai Domestic Marketing Division covering branded pharma (gonadotrophins, fertility hormones, anti-fertility, anti-rabies monoclonal Rabishield). SII is estimated to supply vaccines reaching ~65% of the world's children and to have saved more than 30 million lives globally, and is valued at approximately $25 billion as an unlisted company.

Name

Serum Institute of India Pvt. Ltd.

Legal name

Serum Institute of India Pvt. Ltd.

Website

http://www.seruminstitute.com/

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Serum Institute of India is the world's largest vaccine manufacturer by doses (1.5+ billion annually), producing affordable vaccines and biologics for UNICEF, Gavi, WHO and ~170 country immunization programs through multi-platform technology (viral vector, VLP, conjugate, recombinant) spanning polio, HPV, malaria, COVID-19, BCG, rabies and TB diagnostics.

Ownership category

akta.pro rank

Product category

Vaccines and immuno-biologicals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Prophylactic Human Vaccines (routine, pediatric, adult) (HLAAAEAA)

Keywords

• Vaccine manufacturing
• Polysaccharide conjugate vaccines
• Immunization programs
• Viral vector vaccines
• Biopharmaceutical manufacturing

Headquarters

HQ city

Pune

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Vaccine product sales (one-time purchase): Bulk and single-dose vaccine sales to national immunization programs, Gavi, UNICEF and WHO across 170 countries; volumes exceeding 1.5 billion doses annually.
2. Contract manufacturing and technology licensing: License-and-tech-transfer agreements with partners (Bavarian Nordic, Valneva, Oxford, ImmunityBio) generating milestones, royalties and contract manufacturing revenue.
3. Public-funded R&D and grant programs: Development funding from CEPI, Gavi, the Bill & Melinda Gates Foundation, BMGF/Wellcome and EU programs for vaccines targeting Ebola Bundibugyo, Nipah, Rift Valley fever, H5N1 and Disease X prototypes.
4. Bulk antigen and intermediate supply (B2B): Supply of bulk antigens and intermediates to multinational partners (Novavax Matrix-M, AstraZeneca/COVISHIELD, Merck PCV); B2B contract manufacturing revenue.
5. Pharmaceuticals and diagnostics (India): Sale of branded pharma products (gonadotrophins, anti-fertility, anti-rabies monoclonal Rabishield, fertility hormones) and recombinant products in the Indian private market via domestic marketing division.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels9 records

Core offering

Serum Institute of India (SII) is the world's largest vaccine manufacturer by number of doses, producing and selling more than 1.5 billion doses of vaccines and immuno-biologicals annually across bacterial, viral, polysaccharide-conjugate, recombinant, viral-vector and virus-like particle platforms. Its portfolio covers WHO-prequalified pediatric vaccines (Polio, DTP, Hib, BCG, Hepatitis B, MMR, PCV, HPV, rotavirus, rabies), the R21/Matrix-M malaria vaccine, COVID-19 vaccines (COVISHIELD, COVOVAX), the novel SIILTIBCY/Cy-Tb tuberculosis skin test, monoclonal antibodies (RABISHIELD), and recombinant therapeutics (REPOITIN), supplied to approximately 170 countries and India's domestic market.

Product overview

Serum Institute of India Pvt. Ltd. (SII) is the world's largest vaccine manufacturer by number of doses (over 1.5 billion doses) and India's No. 1 biotechnology company. Its product portfolio is a broad platform-plus-modules architecture spanning bacterial vaccines (DTP group, BCG, Tetanus Toxoid), viral vaccines (Measles, Mumps, Rubella, MMR, Rabies via RABIVAX-S/Rabishield, Rotavirus via ROTASIIL, Poliovac IPV, NASOVAC-S Influenza), combination vaccines (HEXASIIL, Pentavac, Quadrovax), polysaccharide conjugate vaccines (Pneumosil 10-valent PCV, MenAfriVac, MenFive), COVID-19 vaccines (COVISHIELD ChAdOx1, COVOVAX with Matrix-M), HPV vaccine (CERVAVAC), recombinant products (GeneVac-B Hepatitis B, REPOITIN Erythropoietin), urology (ONCO-BCG), anti-sera, fertility and specialty pharma products, and a deep pipeline including R21/Matrix-M and R78C malaria vaccines, VPM1002 TB vaccine, ChAdOx1 NipahB, ChAdOx1 Bundibugyo Ebola, Rift Valley Fever, and MVA-BN mpox vaccines. Pipeline/development products include the ChAdOx1 NipahB vaccine, R78C multi-stage malaria vaccine, and partnerships for Rift Valley fever and H5N1 (Disease X) preparedness, plus the SIILTIBCY/Cy-Tb TB diagnostic platform (rdESAT-6 and rCFP-10) which has received MHRA and European Commission marketing authorisations. The portfolio is anchored by subsidiaries Bilthoven Biologicals (Netherlands) for IPV technology, EU pandemic preparedness (EU FAB), and a 42-acre Poonawalla Bio-Technology Park producing HPV, TdaP, monoclonal antibodies/biosimilars, rotavirus, and recombinant BCG.

Differentiator

Problem solved

Functional benefit

Brands

• COVISHIELD: Recombinant chimpanzee adenovirus vector encoding the SARS-CoV-2 Spike glycoprotein (ChAdOx1 nCoV-19 Corona Virus Vaccine), developed in partnership with AstraZeneca and Oxford University for COVID-19 prevention.
• COVOVAX
• CERVAVAC
• PNEUMOSIL
• ROTASIIL / ROTASIIL-Liquid
• HEXASIIL
• MenFive
• MenAfriVac
• GeneVac-B
• NASOVAC-S
• RABIVAX-S
• Rabishield / RABISHIELD
• ONCO-BCG
• Cy-Tb (SIILTIBCY)
• REPOITIN
• Tresivac
• Tubervac
• Poliovac
• Tetanus Vaccine / Dual Antigen / Triple Antigen / Sii Td-Vac

Products and services

• COVISHIELD Recombinant, replication-deficient chimpanzee adenovirus vector vaccine encoding the SARS-CoV-2 Spike glycoprotein, manufactured under license from AstraZeneca/University of Oxford for COVID-19 prevention.
• COVOVAX SARS-CoV-2 rS Protein (COVID-19) Nanoparticle Vaccine adjuvanted with Matrix-M (Omicron XBB.1.5 variant formulation); Novavax-partnered recombinant nanoparticle COVID-19 vaccine manufactured and marketed in India by SII.
• CERVAVAC Quadrivalent Human Papillomavirus (Serotypes 6, 11, 16 and 18) Vaccine (Recombinant) - India's first indigenously developed qHPV vaccine for prevention of cervical cancer.
• PNEUMOSIL 10-Valent Pneumococcal Polysaccharide Conjugate Vaccine (Adsorbed) with 6A and 19A serotypes - India's first indigenously developed pneumococcal conjugate vaccine against pneumonia.
• MenFive Meningococcal (A, C, Y, W, X) Polysaccharide Conjugate Vaccine - first conjugate vaccine protecting against the five predominant causes of meningococcal meningitis in Africa.
• MenAfriVac Meningococcal A Conjugate Vaccine (Freeze-dried) developed in collaboration with WHO and PATH for sub-Saharan Africa.
• ROTASIIL Rotavirus Vaccine, Live Attenuated Oral (Freeze-Dried) - launched October 2017 for prevention of rotavirus-caused diarrhoea in infants and children.
• HEXASIIL Hexavalent combination vaccine: Diphtheria, Tetanus, Pertussis (Whole Cell), Hepatitis B (rDNA), Poliomyelitis (Inactivated) & Haemophilus influenzae Type b Conjugate Vaccine (Adsorbed).
• Pentavac / Quadrovax Pentavalent (DTP-HepB-Hib) and Quadrovax (DTP-Hib) combination vaccines supplied in PFS (pre-filled syringe) and SD (single dose) liquid formats.
• Cy-Tb (SIILTIBCY) rdESAT-6 and rCFP-10 (Cy-Tb) Injection - novel recombinant tuberculosis skin test based on Mycobacterium tuberculosis-derived antigens for detection of latent tuberculosis infection.
• GeneVac-B Hepatitis B Vaccine (rDNA) I.P. - recombinant DNA hepatitis B vaccine for pediatric and adult populations.
• RABIVAX-S / Rabishield

Quantifiable outcome

• 1.5+ billion doses produced and sold annually
• +9 more outcomes

Named customers22 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature7 records

Partnerships

39 partnerships are on record, tiered flagship / core, minor and strategic / important.

• University of Oxford & CEPI (ChAdOx1 BDBV Ebola Bundibugyo)flagship / coreStrategic or Co-development Partner · 26 May 2026Joint development and manufacturing partnership (May 2026) using ChAdOx1 platform to produce Bundibugyo Ebola vaccine; CEPI provided $8.6M initial funding; clinical trials expected to begin within months; SII aims to produce doses within 20–30 day window.
• ImmunityBio & Japan BCG Laboratory (Tokyo-172 strain)minorStrategic or Co-development Partner · 16 May 2026ImmunityBio signed exclusive U.S. Development and Supply Agreement with Japan BCG Laboratory for Tokyo-172 BCG strain; SII's exclusive global licensing arrangement for recombinant BCG complements this third-party supply.
• Met Gala 2026 (Cultural / Media partnership)minorGTM or Marketing Partner · 4 May 2026Natasha Poonawalla (SII) represented India Inc at the 2026 Met Gala in New York — building personal and corporate brand visibility alongside Reliance Retail and Aditya Birla Group representatives.
• Mittal Family (Rajasthan Royals IPL consortium)minorOthers · 3 May 2026Adar Poonawalla acquired ~18% stake in Rajasthan Royals IPL franchise ($1.65B deal) in consortium with Lakshmi Mittal family (75%) and existing investors (7%); includes Paarl Royals (South Africa) and Barbados Royals (Caribbean).
• KM Biologics Co. Ltd. (Meiji Seika Pharma group)strategic / importantStrategic or Co-development Partner · 28 April 2026Technology collaboration (April 2026) for the development and manufacturing of a Japanese encephalitis vaccine.
• University of Oxford (R78C malaria)flagship / coreStrategic or Co-development Partner · 25 April 2026Licence agreement (April 2026) to support development and manufacture of R78C, a next-generation multi-stage malaria vaccine candidate based on two Plasmodium falciparum blood-stage antigens (RIPR and CyPRA), for clinical settings. Builds on the R21/Matrix-M partnership.
• VaxThera SAS (Colombia)strategic / importantStrategic or Co-development Partner · 22 April 2026Strategic collaboration (April 2026) to strengthen vaccine manufacturing and health security in Colombia; focused initially on critical vaccines of major importance to Colombia's national immunization program.
• Trivitron Healthcare (Mylab Discovery JV)strategic / importantStrategic or Co-development Partner · 6 April 2026Advanced negotiations (April 2026) for SII to form a joint venture with Trivitron Healthcare to expand Mylab Discovery Solutions diagnostics business internationally, leveraging Trivitron's manufacturing capacity.
• Eveliqure Biotechnologies GmbHstrategic / importantStrategic or Co-development Partner · 20 March 2026Strategic collaboration and license agreement (March 2026) for development, manufacturing and commercialisation of novel anti-diarrhoeal vaccines targeting significant global health pathogens, including Eveliqure's proprietary ShigETEC program to reduce morbidity and mortality from diarrheal diseases in children in low-income countries.
• University of Oxfordflagship / coreStrategic or Co-development Partner · 13 March 2026Long-term R&D partnership with Oxford University Innovation (OUI) covering licensing of multiple ChAdOx1-based vaccine candidates (NipahB, Bundibugyo Ebola, Rift Valley fever, H5N1, R78C multi-stage malaria, R21/Matrix-M). Includes non-exclusive worldwide license to advance ChAdOx1 NipahB vaccine candidate (March 2026), largest Nipah vaccine reserve (up to 100,000 doses) and construction of 'Cyrus Poonawalla Vaccines Research Building' at Oxford.
• Bavarian Nordicflagship / coreOEM/ Whitelabel/ Licensing Partner · 11 March 2026Expansion of strategic partnership (March 2026) to include contract manufacturing agreement and full tech transfer of chikungunya vaccine (CHIKV VLP) manufacturing process from Bavarian Nordic to SII; enables scaled supply to endemic LMICs; replaces prior manufacturing agreement with Biological E. Limited. Builds on Dec 2024 license and manufacturing agreement for MVA-BN mpox vaccine for the Indian market.
• ICMR (Indian Council of Medical Research)flagship / coreStrategic or Co-development Partner · 26 February 2026Joint Phase III trial for TB vaccines VPM1002 and Immuvac involving >12,700 participants across 18 sites in 6 Indian states (BMJ publication); 2-year ICMR study comparing single-dose Cervavac and Gardasil HPV vaccines in 504 girls (Feb 2026); joint development of COVISHIELD Phase 3 trials (Nov 2020) and COVOVAX clinical development.
• Valneva SEstrategic / importantOEM/ Whitelabel/ Licensing Partner · 19 December 2025Exclusive license agreement (December 2024) for Valneva's single-shot chikungunya vaccine enabling supply of the vaccine in Asia; expands Bavarian Nordic chikungunya tech-transfer relationship.
• CEPI, Oxford, SII (Nipah vaccine reserve)flagship / coreStrategic or Co-development Partner · 28 October 2025Collaboration to manufacture ChAdOx1 NipahB vaccines for Phase II trials and establish an investigational ready reserve of up to 100,000 doses — world's largest Nipah virus vaccine reserve.
• CEPI (Coalition for Epidemic Preparedness Innovations)flagship / coreStrategic or Co-development Partner · 14 October 2025Multi-program partnership: CEPI provides funding for Rift Valley fever vaccine reserve (Jan 2026), H5N1 pandemic preparedness using baculovirus platform (Oct 2025), Nipah vaccine reserve (Oct 2025) and Bundibugyo Ebola vaccine. SII joined CEPI global producer network (Jan 2024). Up to $8.6M committed by CEPI for ChAdOx1 BDBV Ebola and millions for Rift Valley fever reserve.
• Vidal HealthminorChannel Partner/ Reseller/ Distributor · 23 September 2025Strategic collaboration (September 2025) to support national efforts in cervical cancer prevention and awareness; Vidal Health's platform offers end-to-end, cashless experience for HPV vaccine (Cervavac) access via TPA service.
• Drugs for Neglected Diseases initiative (DNDi)strategic / importantStrategic or Co-development Partner · 13 June 2025Memorandum of understanding (June 2025) between SII and DNDi to advance the development of a new treatment (monoclonal antibody) for dengue in low- and middle-income countries, in cooperation with Thailand, Malaysia and Brazil.
• CEPI (Oxford/SII Rift Valley fever)flagship / coreStrategic or Co-development Partner · 11 June 2025CEPI-supported licensing arrangement (January 2026) creating the largest-ever reserve of an investigational Rift Valley fever vaccine ready for testing.
• SCHOTT Pharma / TPGstrategic / importantStrategic or Co-development Partner · 6 May 2025Joint venture SCHOTT Poonawalla (originally 50/50 between SCHOTT Pharma and SII); in May 2025 TPG acquired a 35% stake in SCHOTT Poonawalla from SII, with TPG entering as new partner in the JV. SII acquired its 50% stake in SCHOTT Kaisha (pharma packaging) in August 2021 to become SCHOTT's joint venture partner.
• Primrose Bio, Inc.strategic / importantStrategic or Co-development Partner · 10 January 2025Collaboration (January 2025) to develop a novel multi-antigen vaccine for infections that affect millions of people globally, leveraging Primrose Bio's proprietary manufacturing technologies for human therapeutics.
• ImmunityBiostrategic / importantOEM/ Whitelabel/ Licensing Partner · 3 May 2024Exclusive global licensing and supply arrangement (May 2024) for Bacillus Calmette-Guerin (BCG) across all cancer types; SII manufactures both standard BCG (sBCG) and next-generation recombinant BCG (iBCG) for use in combination with ANKTIVA® (ImmunityBio's treatment for non-muscle invasive bladder cancer) — addressing chronic BCG shortage.
• University of Oxford (Meningitis-B vaccine)strategic / importantStrategic or Co-development Partner · 16 April 2024Landmark licensing agreement (April 2024) with Oxford to develop a novel solution for Men-B disease, advancing global accessibility via a chimeric protein-based vaccine.
• CEPI & PATH (Pneumosil / MenAfriVac)strategic / importantStrategic or Co-development Partner · 16 April 2024Long-standing collaboration with WHO and PATH for development of Meningococcal A Conjugate Vaccine (MenAfriVac) for sub-Saharan Africa; CEPI $61M funding for Bundibugyo Ebola and other prototype vaccines.
• Univercellsstrategic / importantStrategic or Co-development Partner · 12 April 2024Collaboration (April 2024) between SII and Belgian biotech innovator Univercells to bring affordable personalized oncology to the masses, targeting dramatic increase in accessibility to personalised cancer care.
• Bharat Biotech & Bilthoven Biologicals (BBio)strategic / importantStrategic or Co-development Partner · 2 April 2024Collaboration between Bharat Biotech and Bilthoven Biologicals B.V. (wholly owned SII subsidiary in Netherlands) to strengthen production and supply security of Oral Polio Vaccines (OPV).
• Biocon Biologics Limited (BBL) / Serum Institute Life Sciences (SILS)strategic / importantStrategic or Co-development Partner · 16 September 2021Strategic alliance announced September 2021 between Biocon Biologics and Serum Institute Life Sciences Private Limited (subsidiary of SII).
• SCHOTT AG (now SCHOTT Pharma)strategic / importantStrategic or Co-development Partner · 17 August 2021Joint venture (August 2021) — SII acquires 50% stake in SCHOTT Kaisha to become SCHOTT's joint venture partner and secure pharma packaging supply for SII vaccines.
• Dynavax Technologies Corporationstrategic / importantStrategic or Co-development Partner · 5 August 2021Collaboration between SII and Dynavax to develop an adjuvanted tetanus, diphtheria and acellular pertussis (Tdap) booster vaccine candidate adjuvanted with CpG 1018; also Phase 1/2 COVID-19 vaccine trial with CpG 1018 (December 2020).
• Confederation of Indian Industry (CII)minorGTM or Marketing Partner · 30 July 2021Agreement (July 2021) between CII and SII to accelerate vaccination in partnership with industry, including healthcare providers, targeting communities in India's small towns and rural areas.
• AstraZeneca / Novavax (COVAX long-term supply)flagship / coreOEM/ Whitelabel/ Licensing Partner · 3 February 2021Long-term COVAX supply agreement (February 2021) for two vaccine products via technology transfer from AstraZeneca (COVISHIELD) and Novavax (COVOVAX), ensuring equitable global access to COVID-19 vaccines.
• Codagenixstrategic / importantStrategic or Co-development Partner · 21 December 2020SII partnered with Codagenix to develop a single-dose, intranasal live attenuated COVID-19 vaccine (COVI-VAC); Phase 1 clinical trial commenced in London under MHRA approval (December 2020); SII also began manufacturing of Codagenix's intranasal vaccine candidate.
• IAVI, Merckstrategic / importantStrategic or Co-development Partner · 22 October 2020IAVI, Merck and Serum Institute of India joined forces (October 2020) to develop monoclonal antibodies for COVID-19 and ensure prompt and equitable global access.
• Bill & Melinda Gates Foundation / Gaviflagship / coreGTM or Marketing Partner · 29 September 2020Collaboration (September 2020) to accelerate the manufacture and delivery of up to 100 million doses of COVID-19 vaccines for India and LMICs as part of the Gavi COVAX AMC; pricing at less than $3 per dose.
• Gavi / UNICEF Supply Divisionflagship / coreChannel Partner/ Reseller/ Distributor · 29 September 2020Long-term supply agreement with UNICEF for COVAX; landmark 2011 GAVI pledging conference where SII offered pentavalent vaccine at $1.75/dose (60% reduction); 2020 supply of 100M COVID-19 doses via COVAX AMC.
• Johns Hopkins Bloomberg School of Public Healthstrategic / importantOthers · 17 August 2020Co-hosted webinar (September 2020) — 'Vaccine Access in the Era of COVID 19' with Dean Ellen J. MacKenzie and Dr. Cyrus Poonawalla; Johns Hopkins awarded Dean's Medal to Dr. Poonawalla.
• Novavaxflagship / coreOEM/ Whitelabel/ Licensing Partner · 6 August 2020Long-standing partnership: SII manufactures Novavax's NVX-CoV2373 COVID-19 vaccine (COVOVAX) and licenses Matrix-M adjuvant technology. R21/Matrix-M malaria vaccine commercialised via SII; Novavax received up to $700M in potential milestones plus royalties from Pfizer Matrix-M license (Jan 2026). Cumulative capacity scaled to over 2 billion NVX-CoV2373 doses annually.
• AstraZeneca / Oxford University (COVISHIELD)flagship / coreOEM/ Whitelabel/ Licensing Partner · 5 June 2020SII is one of AstraZeneca's key global manufacturing partners for the Oxford COVID-19 vaccine (COVISHIELD/ChAdOx1 nCoV-19); landmark agreements with CEPI, Gavi and SII (June 2020) for broad and equitable global access; WHO Emergency Use Listing granted February 2021.
• Merck & Co., Inc.flagship / coreStrategic or Co-development Partner · 5 August 2011SII and Merck (MSD) entered into agreement (August 2011) to develop and commercialize a pneumococcal conjugate vaccine (PCV) for emerging and developing world countries.
• AstraZeneca / Oxford University (Broader ecosystem)flagship / coreOEM/ Whitelabel/ Licensing Partner · 1 January 2011Since 2011, under Adar Poonawalla's leadership, SII has focused on affordability and exported vaccines to more than 170 countries; COVAX agreement (Feb 2021) secured AstraZeneca/Oxford and Novavax products via tech transfer to SII.

Scale indicators11 records

Recent moves11 records

Expansion highlights7 records

Broad incumbents

• Sanofi Pasteur: Vaccines division of Sanofi and one of the world's largest vaccine manufacturers, with leading pediatric, influenza and travel health franchises. Competes with SII in pediatric combination vaccines and influenza (Fluzone), and is a comparable global scale player though focused on HIC markets.
• Merck & Co. (MSD): Global vaccines leader with GARDASIL HPV franchise and a long-running co-development partnership with SII on PCV for emerging markets. Comparable as a broad vaccine incumbent and is simultaneously a partner (PCV) and a competitor (HPV, oncology) for SII.
• GSK (GlaxoSmithKline): One of the largest global vaccine manufacturers with broad portfolio across pediatric, travel and oncology vaccines. Overlaps with SII in pediatric combination vaccines (Infanrix/Hexyon) and HPV (CERVARIX) but as a high-income-market incumbent, not as an LMIC-focused specialist.
• Pfizer: Major global vaccines player (Prevnar 13, Comirnaty partnership) and a relevant comparable as a multinational that licenses Matrix-M from Novavax via a deal that flows through SII-adjacent supply chains. Operates as a broad incumbent across infectious disease and oncology vaccines.

Direct peers

• Bharat Biotech: India's largest privately-held vaccine rival and co-developer of several WHO-prequalified vaccines including rotavirus, typhoid and the intranasal COVID vaccine. Directly comparable as a domestic competitor for India's national immunization programme and global LMIC tenders, and partner with SII's Bilthoven Biologicals on OPV supply.
• Biological E. Limited: Hyderabad-headquartered vaccine manufacturer focused on pediatric combination vaccines, PCV and tetanus toxoid for LMICs. Directly competes with SII in pentavalent, PCV and WHO-prequalification-driven LMIC tenders and previously held the Bavarian Nordic chikungunya tech-transfer arrangement that SII now controls.
• Panacea Biotec: New Delhi-based vaccine and pharmaceutical company supplying DTP, polio, hepatitis B and combination vaccines, including to UNICEF. Directly competes in India's EPI portfolio and is a comparable Indian multi-platform vaccine manufacturer serving LMICs.
• Bavarian Nordic: Danish vaccine specialist with MVA-BN mpox, chikungunya VLP and rabies franchises, and an active licensing and tech-transfer partner with SII. Comparable as a smaller, R&D-led vaccine company whose commercial manufacturing increasingly runs through SII for LMIC markets.

Regional players

• Sinopharm / China National Biotec Group (CNBG): China's largest state-owned vaccine manufacturer with WHO-prequalified polio, hepatitis and COVID-19 vaccines. Geographically distinct from SII but a relevant comparable as a state-backed high-volume manufacturer targeting LMIC markets, including COVAX.

Emerging players

• Novavax: US-listed biotech whose Matrix-M adjuvant is core to R21/Matrix-M malaria and COVOVAX, both manufactured by SII. Comparable as an R&D-led platform partner with a small commercial footprint that relies on SII for scaled supply to LMICs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/SerumInstIndia
• LinkedInlinkedin.com/company/serum-institute-of-india

Compliance16 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Serum Institute of India Pvt. Ltd.