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Talking about the COVID-19 vaccine Covovax, he said the SII has supplied about 100 million doses to Europe and US as it's the first and only USFDA and European-approved vaccine.

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Magma Fincorp

On the non-banking finance company, Poonawalla said the company will increase its stake in Magma from 55 percent to around 80 percent over the next few months. "We have got the finance and general insurance business that I am very excited about. We did a recent deal to sell off the housing part which was a subsidiary and focus all our capital and energy on the NBFC," he said.

In 2021, Poonawalla-controlled Rising Sun Holdings acquired a controlling stake in Magma Fincorp via a preferential allotment for an aggregate value of Rs 3,456 crore.

Vaccines

The CEO said for SII, COVID-19 is pretty much over in terms of vaccine production as the company is back to the HPV vaccine launch, which will be launched in the next few days. Also, the company is hoping to roll out the malaria vaccine for Africa at the end of this year.

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China

He said people are concerned about Beijing getting a grip on the COVID-19 situation as the world doesn't want the pandemic to spread again and cause disruption in other countries. SII is trying to engage and offer good vaccines from the West and from India to China.

Further, Poonawalla said Bejing's response to SII's vaccine offer was lukewarm, "I think we should set aside any political differences or apprehensions because the sooner they get back to normal, it is good for everybody and we wish them the best of luck to do it."