Aspen Pharmacare APNJ.J, a global specialty, and branded pharmaceutical company, said it has completed a deal with the Gates Foundation and the Coalition for Epidemic Preparedness Innovations (CEPI) to procure $30 million in funding to strengthen its efforts to manufacture vaccines for Africa.
Aspen had been negotiating funding grants with these two organizations. According to the agreed terms, both organizations will fund $15 million each to the South African pharmaceutical company.
In order to sell vaccines of its own brand in Africa, Aspen made a deal with the Indian biopharmaceutical company Serum Institute of India (SII) in August and made four such vaccines. The deal came while Aspen’s COVID-19 vaccine production centers were lying idle in South Africa.
Aspen Pharmacare, while announcing the completion of the agreement with the Gates Foundation and CEPI, said, “The new funding from CEPI and the Gates Foundation will support a ten-year agreement between Aspen and Serum Institute that aims to expand the supply and sourcing of affordable vaccines manufactured in Africa.”
Microsoft co-founder Bill Gates and former wife Melinda French Gates founded the American private foundation, Bill & Melinda Gates Foundation in 2000.
The Coalition for Epidemic Preparedness Innovations is a foundation that receives donations from various sectors like public, private, philanthropic, and more to support independent research financially to develop vaccines against emerging infectious diseases.
According to the Serum Institute contract, it supports Aspen in producing and selling pneumococcal, rotavirus, polyvalent meningococcal, and hexavalent vaccines frequently administered in Africa.
Aspen Pharmacare’s Chief Executive Stephen Saad gave a statement in August, he said, “It gives Aspen certainty on volumes, which will eventually more than cover an expected fall in revenue from its COVID vaccine contract with Johnson & Johnson (JNJ.N).”
Aspen stated on Monday that the financing will assist in maintaining its regional capacity for producing vaccines against future outbreaks in addition to supporting the “technology transfer operations” scheduled to start early in 2023.
