On Monday, the US International Development Finance Corporation and Biological E. Limited announced plans to expand Biological E.’s vaccine manufacturing facility in Hyderabad in order to meet the “Quad” leaders’ commitment.
According to a press release by the US Mission India, the facility finalised a U.S. government financing arrangement formalizing USD 50 million to expand the company’s capacity to produce Covid-19 vaccines.This is being done to bolster near-term COVID-19 response efforts. It will also benefit long-term global health in India and throughout the Indo-Pacific region, said to the press release.
Chief Operating Officer, DFC, David Marchick said, “DFC’s partnership with Biological E will support capacity for production of more than one billion vaccine doses by the end of 2022 for India and for developing countries around the world.”
The managing director of Biological E. Limited, Mahima Datla expressed her pleasure for the financial support from the US government which was announced at the Quad Summit in March 2021.
This investment will not only help us augment our capacity to produce more COVID-19 vaccines, but also help the global community that has been relentlessly fighting against the spread of the COVID-19 pandemic,” said Datla said.
The release further said that DFC’s investment in Biological E. Limited is part of the agency’s Global Health and Prosperity Initiative, which is focused on supporting the global response to the COVID-19 pandemic and strengthening health resilience in developing countries.
Antibiotic use has surged globally, leading to a rise in antibiotic resistance, especially concerning in…
Choking is a leading cause of injury and death in young children, particularly those under…
Hard Water (Khara Pani) Leading To Hair Fall Hard water is rich in minerals and…
Discover how the rise in high blood pressure during pregnancy is impacting maternal and fetal…
"Discover the transformative power of six delicious homemade drinks that can help you naturally melt…
"Transform your weight loss routine with these eight delicious fat-flushing drinks that not only hydrate…