AIMA 2022: Serum Institute’s Adar Poonawalla on building capacity and resilience

AIMA Conclave: Serve the people at large and the opportunities will come automatically, said Adar Poonawalla, Chief Executive Officer, Serum Institute of India in conversation with Sanjiv Goenka, Chairman, RP-Sanjiv Goenka Group at All India Management Association’s (AIMA) 7th National Leadership Conclave.

Adar Poonawalla mentioned he had raised Rs 10,000 crore from other countries, and philanthropists like Bill Gates in 2020 to build capacities and buy raw materials to start vaccine production.

However, the execution was the hardest part for him as everything was shut down during the pandemic, though the government helped in getting special visas and fast-tracking permissions and licenses.
It was not just a financial risk for Adar Poonawalla but a reputational risk as well.

When asked why he chose the Oxford-developed vaccine, Adar mentioned four factors that helped him; cost-effectiveness, proven technology, thermostability, and trust factor.

Speaking at the AIMA Conclave 2022, Poonawalla said though there is a first-mover advantage, you can be second or third as well and still do great by learning from the mistakes of others.

Adar mentioned the new variant of coronavirus may cause some disruptions later and that is why it is important to get booster doses. “It will reduce the chances of future lockdowns which have created distress and financial loss to everybody,” he said.