India's Serum Institute to invest $68 mln in UK vaccine maker Oxford Biomedica
The Peninsula
Vaccine maker Serum Institute of India (SII) will invest 50 million pounds ($68 million) in Oxford Biomedica to help fund the development of a plant that manufactures COVID-19 shots, the British company said on Wednesday.
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% stake in Oxford Biomedica as part of the deal.
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