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India’s organic e, US finalize $50 million Covid vaccine deal: Report

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The US said it would work to fund the efforts of Biological E. (Representative)

Bangalore:

The United States and India’s Biological E. Ltd. on Monday said they have finalized a funding arrangement for $50 million to expand the vaccine maker’s capacity to produce COVID-19 shots.

The agreement was reached in March when the leaders of the United States, Australia, Japan and India – the so-called “quad” countries – met during a virtual summit.

The United States had said it would fund its International Development Finance Corp (DFC) efforts to produce at least 1 billion COVID-19 vaccine doses for India and developing countries by the end of 2022. will work through.

David Marchick, chief operating officer of DFC, said in an emailed statement, “The new facility from Biological E., which is already producing vaccines, will help reduce the vaccine gap and save lives in developing countries.” “

The disparity in the administration and distribution of COVID-19 shots has been highlighted by several experts and bodies such as the World Health Organisation.

For example, only 5% of Africa’s population is immunized, compared to over 70% in most wealthy countries.

India, home to the world’s largest vaccine maker Serum Institute, is expected to play a key role in supplying COVID-19 shots to low- to middle-income countries. The South Asian nation this month resumed vaccine exports for the first time since April.

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