-
ALSO READ
Mix-and-match approach to Covid vaccines may provide immunological benefits
States, UTs have stock of more than 15.7 million Covid-19 vaccines: Centre
Odisha seeks Covid-19 vaccine in 95:05 ratio for Govt, private hospitals
Sri Lanka receives 2 million doses of Sinopharm Covid-19 vaccines
India to receive between 190-250 mn fully subsidised Covid vaccines: Gavi
-
In a move towards fulfilling the commitment set by the "Quad" leaders, the U.S. International Development Finance Corporation and Biological E. Limited unveiled the expansion of Biological E.'s vaccine manufacturing facility in Hyderabad on Monday.
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.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU