Adar Poonawalla, CEO of the Serum Institute of India (SII), on July 7 said the business is expecting to develop a COVID-19 vaccine by the year old since it's focusing on a'good and safe' product and is not at a'rush'.

He was speaking during the launching of'Compact XL, a compact diagnostics machine by MyLab Discovery Solutions, that could automate lab processes from sample handling to preparing rt pcr tubes.

Replying to a query about the development of the COVID-19 vaccine,'' Poonawalla reported that by the end of 2020, the SII will be expecting to own a vaccine.

"End of this calendar year, we are expecting to have a vaccine. Thus we'll discuss once of the period three trials for the product come about. Recently, there was news about the following vaccine offender which has been rushed. We don't want to rush anything. You would like to emphasis on efficacy and safety... and once we're confident of good and secure vaccine, we will announce but that continues to be half a year away from now," explained Adar.

He added said that till the disorder comes, analyzing is the important thing and that is the reason why SII has invested in MyLabs.

"In case you test, isolate and segregate, we can deal with the situation till the good cure or vaccine occurs around," said Adar.

SII has spent over Rs 100 crore from MyLabs, a Pune-based molecular diagnostics business.

Poonawalla lamented that India is perhaps not analyzing enough and added that Indian test manufacturers for example MyLabs are picking up the production capacity.

"There's a fear that what can occur if the amount of positive patients grows. I want to say that there is not any harm in the event the number increases because it'll help us find people," he further added.

Poonawalla also sought consent to permit export of the test kits.

"We have enough power in fabricating testing kits. MyLab can produce 2 million kits per week and there is not any that much demand in India so allow us to export and we have enough buffer stock for India available when there is certainly more outbreak," he said adding they have been waiting to the federal government's blessings.