HYDERABAD: Bolstering its efforts to combat Covid-19, the US government’s International Development Finance Corporation (DFC) will invest in the expansion of Biological E’s vaccine manufacturing facility in Hyderabad. The expansion plans were unveiled on Monday by DFC chief operating officer (COO) David Marchick and Biological E Ltd managing director Mahima Datla.
The duo finalised a US government financing arrangement of $50 million to expand the company’s capacity to produce Covid-19 vaccines. The partnership will not only boost the country’s Covid-19 response in the short run, but also improve the long-term global health in India and the Indo-Pacific region.
The initiative is in support of the efforts of US President Biden and his counterparts as part of the ‘Quad’ — a strategic dialogue among Australia, India, Japan and the US.“DFC’s partnership with Biological E will support the latter’s capacity for production of more than one billion vaccine doses by the end of 2022 for India and developing countries around the world,” said David Marchick.
“Today’s agreement represents a model of the close collaboration amongst countries that will be essential to achieve President Biden’s goal of ending the pandemic in 2022. Scaling Biological E’s new facility, which is already producing vaccines, will help close the vaccine gap and save lives in developing countries,” the DFC COO added.
DFC’s investment in Biological E is part of the agency’s Global Health and Prosperity Initiative, which works towards catalysing $5 billion in projects that bolster health systems.Expressing happiness over receiving financial support from the US government, the Biological E MD said, “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 virus.”
State records 179 cases of Covid, two deaths
Telangana reported 179 cases of Covid-19 on Monday after conducting 38,588 tests. With this, the State’s active cases have increased to 4,023 cases as recoveries dipped to just 104. The State also saw two deaths with the toll increasing to 3,949. Meanwhile, the highest active cases were recorded at GHMC with 66 cases, followed by Karimnagar with 15 cases and 11 cases in Hanamkonda district