Aspen Pharmacare has wrapped up pacts to secure funding of $30m (R526.4m) from the Gates Foundation and the Coalition for Epidemic Preparedness Innovations (CEPI) to help make affordable vaccines for Africa, the company said on Monday.
In August, Aspen announced a deal with the Serum Institute of India to make and sell four Aspen-branded vaccines for Africa, as it looked to use its near-idle Covid-19 vaccine production lines in South Africa. It had been negotiating with the two organisations for grant funding.
“The new funding from CEPI and the Gates Foundation will support a 10-year agreement between Aspen and the Serum Institute that aims to expand the supply and sourcing of affordable vaccines manufactured in Africa,” the company said.
Each of the two will contribute $15m (R262.3m).
The Serum Institute agreement provides for Aspen to make and distribute pneumococcal, rotavirus, polyvalent meningococcal and hexavalent vaccines commonly administered in Africa.
It gives Aspen certainty on volumes, which will eventually more than cover an expected fall in revenue from its Covid-19 vaccine contract with Johnson & Johnson, CEO Stephen Saad said in August.
On Monday, Aspen said the funding, in addition to supporting the “technology transfer activities” set to begin early in 2023, would help sustain its regional vaccine-making capacity against future outbreaks.
Reuters
South Africa's Aspen gets R500m grant to make vaccines for Africa
Image: Fredlin Adriaan
Aspen Pharmacare has wrapped up pacts to secure funding of $30m (R526.4m) from the Gates Foundation and the Coalition for Epidemic Preparedness Innovations (CEPI) to help make affordable vaccines for Africa, the company said on Monday.
In August, Aspen announced a deal with the Serum Institute of India to make and sell four Aspen-branded vaccines for Africa, as it looked to use its near-idle Covid-19 vaccine production lines in South Africa. It had been negotiating with the two organisations for grant funding.
“The new funding from CEPI and the Gates Foundation will support a 10-year agreement between Aspen and the Serum Institute that aims to expand the supply and sourcing of affordable vaccines manufactured in Africa,” the company said.
Each of the two will contribute $15m (R262.3m).
The Serum Institute agreement provides for Aspen to make and distribute pneumococcal, rotavirus, polyvalent meningococcal and hexavalent vaccines commonly administered in Africa.
It gives Aspen certainty on volumes, which will eventually more than cover an expected fall in revenue from its Covid-19 vaccine contract with Johnson & Johnson, CEO Stephen Saad said in August.
On Monday, Aspen said the funding, in addition to supporting the “technology transfer activities” set to begin early in 2023, would help sustain its regional vaccine-making capacity against future outbreaks.
Reuters
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