Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.The International Finance Corporation (IFC) has announced a joint financing package of $712.67m (€600m) for Aspen Pharmacare to support the Covid-19 vaccines production.
IFC announces $712.67m joint financing to Aspen to boost Covid-19 vaccine production. Credit: Gerd Altmann from Pixabay.
Subscribe to our email newsletter
The International Finance Corporation (IFC) has announced a joint financing package of $712.67m (€600m) for Aspen Pharmacare to support the Covid-19 vaccines production.
The organisation with German development finance institute DEG, the U.S. International Development Finance Corporation (DFC) and French development institution Proparco is jointly providing the long-term financing package to the company.
The funding packaging, which is subject to the fulfilment of certain conditions, will include $185.29m (€156m) from Proparco, $171m (€144m) from DEG, $237.55m (€200m) to be provided by IFC, $118.7m (€100m) from the US DFC.
This package will support Aspen in the production of Covid-19 vaccines, and other therapies in Africa as well as in the emerging markets.
It will also help the company to increase its vaccines production capacity with Stringent Regulatory Authorization (SRA) and/or World Health Organization (WHO) Emergency Use Listing along with Johnson & Johnson Covid-19 vaccine.
IFC stated that the vaccines will be mainly distributed to the South African government, African Union, and COVAX.
Aspen CEO Stephen Saad said: “Aspen’s teams are working tirelessly to optimize production of the Johnson & Johnson COVID-19 vaccine for Africa at our manufacturing site in Gqeberha, South Africa.
“We are actively seeking opportunities to further extend and capacitate COVID-19 vaccine manufacturing at this world class production facility.
“Aspen is seeking to play a meaningful role in contributing to the objective of delivering the majority of Africa’s needs from production sites located in Africa.”
The company has collaborated with Johnson & Johnson to combine, finish, fill and pack the Janssen Covid-19 vaccine at its sterile facility located in South Africa.
Recently, it also constructed a fully certified sterile injectables facility at its existing site at Gqeberha in South Africa.
