The Serum Institute in Pune is betting big hopes and big bucks on the Oxford COVID-19 vaccine which is the world’s most promising coronavirus vaccine to date.

Led by the fabulously wealthy Adar Poonawalla who is The Serum Institute’s chief executive, the institute is set to dole out 500 doses of the vaccine each minute, reports The New York Times.

39-year-old Poonawalla has stated that he will split the hundreds of millions of vaccine doses that his institute produces 50-50 between Indian and the rest of the world with a special focus on poorer countries.

 

 

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‘Anti-Venom King’ @adarpoonawalla had committed to provide a covid19 vaccine at an affordable price of 3-5 USD per dose in India, which is quite less as compared to what pharmaceutical companies in US are planning to charge, estimated 8-10 USD per dose. Since Mr. Adar Poonawalla is quite optimistic of the Oxford vaccine doing wonders in third stage, He has already started the production of vaccine in large numbers to cater the huge market demand which he foresee in the near future. If all goes well then we could have a ‘Made in India’ Vaccine that could save Millions of Life. Kudos 🎉 @adarpoonawalla @natasha.poonawalla @seruminstituteindia #agameoftones @nbcnews @bbcnewsmarathi @just.indian.things @indiatoday @the_hindu @indianexpress @hindustantimes @abpmajhatv @canonindia_official @etvbharat_maharashtra @brut.india @scoopwhoop #agameoftones #portrait #india_gram #corona #covid_19 #coronavirus @who @pune_life @punetimesonline @maharashtra_ig #explore #explorer @natgeotravellerindia @goproindia #india

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Poonawalla has stated that he believes there is a “70 to 80 percent” chance that the vaccine will work and adds: “I hope we don’t go in too deep.”

Poonawalla also estimates that he is spending around $450 million to mass-produce the Oxford vaccine, NYT reports.