Aspen financed to lift vaccine output
Aspen Pharmacare is to receive a R10.1-bn long-term debt financing package from a consortium of development financiers led by the World Bank’s International Finance Corporation (IFC) to support the development of vaccine manufacturing capacity in Africa. The partnership includes the IFC, the French development institution Proparco,
German development institution DEG, and the US International Development Finance Corporation (DFC).
“Africa has lagged the rest of the world in rolling out Covid-19 shots, partly due to the lack of vaccine manufacturing capacity on the continent. The continent produces only about one percent of the vaccines it uses, and Aspen is the only pharmaceutical manufacturer in Africa contracted by Johnson & Johnson (J&J) to help compound, fill, finish and package its Covid-19 shots, which it does at its sterile facility in Gqeberha in the Eastern Cape,” reported Business Day (1 July 2021).