• Zydus Cadila, an Indian pharmaceutical company, is working on producing a Covid-19 vaccine. AFP
    Zydus Cadila, an Indian pharmaceutical company, is working on producing a Covid-19 vaccine. AFP
  • Dr Sharvil Patel, managing director of Cadila, says it could be four years before the global population is inoculated. Courtesy: Zydus Cadila
    Dr Sharvil Patel, managing director of Cadila, says it could be four years before the global population is inoculated. Courtesy: Zydus Cadila
  • Indian pharmaceutical company Zydus Cadila’s ZyCov-D is among dozens of vaccine candidates being developed globally Courtesy: Zydus Cadila
    Indian pharmaceutical company Zydus Cadila’s ZyCov-D is among dozens of vaccine candidates being developed globally Courtesy: Zydus Cadila
  • About 30,000 volunteers will receive injections in India next month in final stage trials. Courtesy: Zydus Cadila
    About 30,000 volunteers will receive injections in India next month in final stage trials. Courtesy: Zydus Cadila
  • Indian pharmaceutical company Zydus Cadila is among dozens of vaccine candidates being developed globally in the hunt to find an antidote for the coronavirus that has killed more than 1.3 million people. About 30,000 volunteers will receive injections in India next month in final stage trials. Courtesy: Zydus Cadila
    Indian pharmaceutical company Zydus Cadila is among dozens of vaccine candidates being developed globally in the hunt to find an antidote for the coronavirus that has killed more than 1.3 million people. About 30,000 volunteers will receive injections in India next month in final stage trials. Courtesy: Zydus Cadila
  • Indian pharmaceutical company Zydus Cadila is developing a Covid-19 vaccine. Courtesy: Zydus Cadila
    Indian pharmaceutical company Zydus Cadila is developing a Covid-19 vaccine. Courtesy: Zydus Cadila
  • Dr Sharvil Patel, managing director of Cadila Healthcare Ltd, says the company is on track to making a vaccine available by June. Courtesy: Zydus Cadila
    Dr Sharvil Patel, managing director of Cadila Healthcare Ltd, says the company is on track to making a vaccine available by June. Courtesy: Zydus Cadila

Covid-19 vaccine could take 4 years to distribute globally, says major Indian drug maker


Ramola Talwar Badam
  • English
  • Arabic

It could take up to four years to vaccinate the global population against Covid-19, a major drug maker said.

Zydus Cadila, a company in India, said it would take time to ensure effective and affordable vaccines were available worldwide.

The company's managing director told The National that there may need to be an annual immunisation programme – like the flu shot – to top up people's resistance and as strains mutate.

Zydus Cadila's ZyCoV-D is among dozens of potential vaccines being developed worldwide.

Dr Sharvil Patel, managing director of Cadila Healthcare, said the company was on track to have its own vaccine available by June.

There will be demand at least for the next three to four years for the vaccine

The drug maker is also repurposing existing medicine to treat Covid-19 patients who could suffer from long-term damage to their lungs, kidneys and liver.

“I strongly believe there would be more than a few vaccine manufacturers,” said Dr Patel, 41, from the company’s headquarters in Ahmedabad, western India.

“If we are talking about numbers for India, we need at least a billion-plus doses which is not practically possible over a short time.

“There will be demand at least for the next three to four years for the vaccine.

“This could become an annual jab one needs to take, part of overall immunisation like the flu vaccine.”

Dr Sharvil Patel, managing director of Cadila, says it could be four years before the global population is inoculated. Courtesy: Zydus Cadila
Dr Sharvil Patel, managing director of Cadila, says it could be four years before the global population is inoculated. Courtesy: Zydus Cadila

Cadila is one of two Indian drug makers working to develop an indigenous Covid-19 vaccine.

It is preparing to produce more than 100 million doses a year, plus an additional 50 to 70 million doses with partners once trials are successfully completed.

About 30,000 volunteers will receive injections in India next month as part of final-stage trials.

Data from second-phase human trials on 1,000 people will be released in a few weeks.

"We are looking for a good result for Phase 2 that we will know by end of the month," he said.

“We are already in preparation for a large Phase 3 trial for 30,000-plus volunteers that we hope to commence in December.

"We are looking at the April-June quarter when the vaccine could be available.”

Among the country’s top drug makers by revenue, Cadila also produces other coronavirus treatments such as remdesivir.

ZyCoV-D is being developed in Ahmedabad and vaccine research is also being conducted in Italy.

The company has already identified manufacturers they will work with to produce the vaccine for overseas markets.

“Ours does not require a highly specialised contained facility so it’s relatively easier to set up,” said Dr Patel.

“It will definitely be the Middle East region, North Africa, South-East Asia and Latin American markets,” he said.

“If the data is very good we will look at European and other developed markets including Australia and others. Currently our visibility is between 100 to 170 million doses – that is what we will prepare for.”

This month, Moderna and Pfizer each announced that their vaccines were between 90 and 94 per cent effective. But both require refrigeration at minus 20°C and minus 75°C, posing logistical issues for distribution.

For developing countries such as India, with a population of 1.3 billion, a vaccine would need to be mass-produced with low cold-chain storage requirements.

Pricing will be critical for countries that are not able to manufacture vaccines themselves.

Dr Patel said ease of delivery would be vital. Cadila’s DNA-based vaccine needs to be stored at between 2°C and 8°C.

“The thermal stability is challenging for many of the developed vaccines,” he said.

"The vaccine platform we have developed is far more manageable for distribution and logistics."

Conventional vaccines use weakened or killed versions of a virus. Gene-based DNA vaccines take a small part of the virus’ genetic information – enough to trigger an immune response – to prompt production of proteins directly in the cell to fight the virus.

Dr Patel said a substantial portion of the world’s population would continue to require treatment for Covid-19 until large-scale vaccination was ready.

“You do see issues related to kidney, lung and liver damage. Severely affected patients get into acute respiratory distress syndrome because of large damage to the epithelial cells of the lungs so you would definitely need treatment when people are in that stage,” he said.

“We are developing and repurposing some of our drugs that can treat some of these underlying conditions of the virus.

“We are trying to repurpose medicines to reduce the viral load early on so we don’t require hospitalisation or at least reduced oxygen.”

  • Migrant laborers wait for a rapid antigen test at the site of an under construction residential complex in New Delhi, India. Reuters
    Migrant laborers wait for a rapid antigen test at the site of an under construction residential complex in New Delhi, India. Reuters
  • A health worker displays a test kit showing a positive result for Covid-19 in Gauhati, India. AP Photo
    A health worker displays a test kit showing a positive result for Covid-19 in Gauhati, India. AP Photo
  • A man walks past a board from the Ahmedabad Municipal Corporation at a temporary Covid-19 testing centre in Ahmedabad. AFP
    A man walks past a board from the Ahmedabad Municipal Corporation at a temporary Covid-19 testing centre in Ahmedabad. AFP
  • People waits for transportation at a bus station in Jammu, India. AP Photo
    People waits for transportation at a bus station in Jammu, India. AP Photo
  • A vendor waits for customers at a market in Jammu, India. AP Photo
    A vendor waits for customers at a market in Jammu, India. AP Photo
  • People in need sit while maintaining social distancing in front of a restaurant offering free meals in Ahmedabad. AFP
    People in need sit while maintaining social distancing in front of a restaurant offering free meals in Ahmedabad. AFP
  • Women walk in front of a graffiti painted on a roadside wall in Bangalore, India. EPA
    Women walk in front of a graffiti painted on a roadside wall in Bangalore, India. EPA
  • A healthcare worker takes a swab from a migrant laborer for a rapid antigen test in New Delhi. Reuters
    A healthcare worker takes a swab from a migrant laborer for a rapid antigen test in New Delhi. Reuters
  • A paramedic prepares for duty at a makeshift Covid-19 care center at an indoor sports stadium in New Delhi. AP Photo
    A paramedic prepares for duty at a makeshift Covid-19 care center at an indoor sports stadium in New Delhi. AP Photo
  • A health worker takes the temperature of a patient at a makeshift Covid-19 care center at an indoor sports stadium in New Delhi. AP Photo
    A health worker takes the temperature of a patient at a makeshift Covid-19 care center at an indoor sports stadium in New Delhi. AP Photo

India is known as the "pharmacy of the world" for producing cost-effective drugs – a lifeline in countries that cannot pay high prices to treat illness such as HIV, asthma and cancer.

Dr Patel said India would continue to play this role during the pandemic.

“Not only are we working on research to fight [Covid-19], we want to contribute in making drugs available and affordable,” he said.

Dr Patel, the third-generation head of a family-owned business, said the pandemic taught people to look out for the vulnerable population and the elderly.

“This is something that it is important for everyone to understand. You don’t have to only be worried for yourself. You have to worry about people who you may infect if you are not careful," he said.

SUE%20GRAY'S%20FINDINGS
%3Cp%3E%22Whatever%20the%20initial%20intent%2C%20what%20took%20place%20at%20many%20of%20these%20gatherings%20and%20the%3Cbr%3Eway%20in%20which%20they%20developed%20was%20not%20in%20line%20with%20Covid%20guidance%20at%20the%20time.%3C%2Fp%3E%0A%3Cp%3E%22Many%20of%20these%20events%20should%20not%20have%20been%20allowed%20to%20happen.%20It%20is%20also%20the%20case%20that%20some%20of%20the%3Cbr%3Emore%20junior%20civil%20servants%20believed%20that%20their%20involvement%20in%20some%20of%20these%20events%20was%20permitted%20given%20the%20attendance%20of%20senior%20leaders.%C2%A0%3C%2Fp%3E%0A%3Cp%3E%22The%20senior%20leadership%20at%20the%20centre%2C%20both%20political%20and%20official%2C%20must%20bear%20responsibility%20for%20this%20culture.%C2%A0%3C%2Fp%3E%0A%3Cp%3E%22I%20found%20that%20some%20staff%20had%20witnessed%20or%20been%20subjected%20to%20behaviours%20at%20work%20which%20they%20had%20felt%20concerned%20about%20but%20at%20times%20felt%20unable%20to%20raise%20properly.%3C%2Fp%3E%0A%3Cp%3E%22I%20was%20made%20aware%20of%20multiple%20examples%20of%20a%20lack%20of%20respect%20and%20poor%20treatment%20of%20security%20and%20cleaning%20staff.%20This%20was%20unacceptable.%22%C2%A0%3C%2Fp%3E%0A
'Munich: The Edge of War'

Director: Christian Schwochow

Starring: George MacKay, Jannis Niewohner, Jeremy Irons

Rating: 3/5

MATCH INFO

English Premiership semi-finals

Saracens 57
Wasps 33

Exeter Chiefs 36
Newcastle Falcons 5

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

FIXTURES

Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

COMPANY%20PROFILE%20
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENomad%20Homes%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2020%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EHelen%20Chen%2C%20Damien%20Drap%2C%20and%20Dan%20Piehler%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20and%20Europe%3Cbr%3E%3Cstrong%3EIndustry%3C%2Fstrong%3E%3A%20PropTech%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2444m%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Acrew%20Capital%2C%2001%20Advisors%2C%20HighSage%20Ventures%2C%20Abstract%20Ventures%2C%20Partech%2C%20Precursor%20Ventures%2C%20Potluck%20Ventures%2C%20Knollwood%20and%20several%20undisclosed%20hedge%20funds%3C%2Fp%3E%0A
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea