Vaccine maker to lose $130 million after plant fire

A fire that broke out at vaccine producer Serum Institute of India Pvt. Ltd.’s Pune, India-based factory on Jan. 21 is likely to delay new product launches and cause revenue loss of around 10 billion Indian rupees ($136.7 million), Business Standard reported citing CNBC-TV18. The fire killed five people. Serum Institute’s Chief Executive Adar Poonawalla said the accident would not affect the company’s COVID-19 vaccine production.

Source: Business Insurance