Connect with us
Gage

Coronavirus

EIB provides €50 million support for African pharmaceutical products

The EIB has launched a scheme to strengthen local production of active pharmaceutical ingredients in Africa and scaling up drug manufacturing.

Published

on

EIB provides €50 million support for African pharmaceutical products, Chemical medicine - drugs

The European Investment Bank (EIB) has launched a €50 million scheme to support active pharmaceutical ingredients in Africa.

EIB contends the scheme will reduce dependency on drug imports and address medical supply chain weaknesses linked to COVID-19. It is also expected that the scheme will improve availability of specialist drugs and tackle supply chain challenges that currently damage public health across Africa.

READ: DBN secures $70 million equity investment from AfDB, EIB

Why this matter

  • Accelerating high-impact pharmaceutical investment across Africa is crucial to improve public health, address medical supply chain weaknesses and unlock long-term economic development.
  • In addition, is that scaling up pharmaceutical investment in Africa will help to protect millions of people from disease and disability and strengthen resilience to ongoing and future pandemics.
  • Also, increasing local production will reduce dependency on imports and exposure to counterfeit drugs.
  • The scheme will enable Africa to benefit from predicted doubling in local pharmaceutical sales over the next decade, improve access to healthcare and create specialist jobs on the continent.
  • This financing programme will also ensure that African pharmaceutical manufacturing can benefit from technological innovation that is currently transforming the industry and making local production easy through digital connectivity, automation and cloud computing.

READ: CBN’s new policy on payment could disrupt SMEs activities – LCCI

What they are saying

Thomas Östros, European Investment Bank Vice President said:

Specta

“This scheme has been designed with African and global experts and builds on the EIB’s unique global technical experience and financing expertise supporting health and innovation investment.”

READ: The benefits of using Blockchain technology in your company

Dr Mariângela Batista Galvão Simão, World Health Organisation Assistant Director-General responsible for Access to Medicines and Health Products stated that:

“COVID-19 has highlighted how public health in Africa is vulnerable to global supply chains and dependent on international production.”

Coronation ads

“Increasing local specialist manufacturing of Active Pharmaceutical Ingredients will help to improve the public health of millions of Africans. This new initiative demonstrates how specialist pharmaceutical and financing expertise can create jobs and a better future for Africa.”

READ: Manufacturing sector in Nigeria and the reality of a “new normal”

What you should know

  • The initiative is aligned with the World Health Organisation’s goals and the recently announced cooperation between the EIB and WHO to combat COVID-19 and strengthen health system resilience to better face future pandemics.
  • Long-term financing will be available in USD, EUR and local currency and can cover more than 50% of the total cost of eligible investment, as part of the EIB’s exceptional response to COVID-19.
  • EIB financing can co-finance projects alongside philanthropic, equity, development financing or support from commercial banks.
  • The EIB initiative will provide long-term financing for pharmaceutical production across sub-Saharan Africa and specifically target the manufacturing of active pharmaceutical ingredients that constitute 45% of final drug costs.
  • The European Investment Bank is the lending arm of the European Union. It is the biggest multilateral financial institution in the world and one of the largest providers of climate finance.

Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Coronavirus

FG yet to purchase Covid-19 vaccines – Minister of State for Health

According to a disclosure made by the Minister of State for Health, the FG is yet to purchase any COVID-19 vaccine.

Published

on

NPHCDA to address infrastructural gaps in COVID-19 vaccine supply, FG to focus on procurement of Covid-19 vaccine in first quarter 2021

The Federal Government has said that it is yet to purchase any Covid-19 vaccines as the country is still assessing the prices of different shots, their availability and the logistics required for a nationwide roll-out.

This is coming at a time when developed economies are rolling out the vaccines in their countries and concerns have been raised about the availability of the Covid-19 doses in the African continent.

This disclosure was made by the Minister of State for Health Adeleke Olurunnimbe Mamora, during a telephone interview with Bloomberg.

What the Minister of State for Health is saying

Mamora said that once the government determines which vaccines are accessible and affordable, authorities then have to consider storage and distribution issues as they prepare to give shots to 200 million people.

He said, “We haven’t made any purchases at this point in time.’’ He added that the government expects to have a definitive plan by the end of January.

Specta

Nigeria is working with the World Health Organization backed COVAX programme and hopes to receive its first doses in January. The Minister for Finance, Budget and National Planning, Zainab Ahmed, had said that the country is working on what type and quantity of Covid-19 vaccines to procure and financial provision will be made in the 2021 budget for the vaccines.

COVAX is a global initiative backed by the World Health Organization which aims to provide equitable access to Covid-19 vaccines, especially to poor countries.

What you should know

  • It can be recalled that Bloomberg had reported that experts and a state governor had expressed doubts about the ambitious plan by Nigeria to vaccinate as much as 40% of its population this year due to lack of resources and infrastructure.
  • The Chief Executive Officer of Nigeria’s National Primary Health Care Development Agency, Faisal Shuaib, said on Thursday the country expects to receive 100,000 doses of Pfizer Inc’s shot at the end of January through the Covax initiative.
  • Nigeria has officially reported 107,345 Covid-19 cases, with 1,413 casualties, but testing is not easily accessible for most people, with only about 1.1 million tests conducted so far.

Continue Reading

Coronavirus

COVID-19 Update in Nigeria

On the 16th of January 2021, 1,598 new confirmed cases and 7 deaths were recorded in Nigeria

Published

on

The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 108,943 confirmed cases.

On the 16th of January 2021, 1,598 new confirmed cases and 7 deaths were recorded in Nigeria.

To date, 108,943 cases have been confirmed, 85,367 cases have been discharged and 1,420 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 1.13 million tests have been carried out as of January 16th, 2021 compared to 1.03 million tests a day earlier.

COVID-19 Case Updates- 16th January 2021,

  • Total Number of Cases – 108,943
  • Total Number Discharged – 85,367
  • Total Deaths – 1,420
  • Total Tests Carried out – 1,135,535

According to the NCDC, the 1,598 new cases were reported from 24 states- Lagos (461), FCT (206), Plateau (197), Rivers (168), Kaduna (116), Anambra (53), Ogun (49), Ebonyi (47), Edo (42), Sokoto (32), Imo (31), Katsina (31), Oyo (30), Akwa Ibom (27), Delta (16), Kano (16), Abia (15), Niger (15), Ondo (11), Bayelsa (10), Borno (9), Kebbi (8), Ekiti (7), Jigawa (1).

Meanwhile, the latest numbers bring Lagos state total confirmed cases to 39,723, followed by Abuja (14,544), Plateau (6,617), Kaduna (6,121),  Oyo (4,679), Rivers (4,382), Edo (3,246), Ogun (2,831), Kano (2,577), Delta (2,102), Ondo (2,070), Katsina (1,723), Enugu (1,583), Kwara (1,566), Gombe (1,489), Nasarawa (1,269), Ebonyi (1,206), Osun (1,186),  Abia (1,129), and Bauchi (1,107).

Specta

Borno State has recorded 859 cases, Imo (841), Sokoto (677), Benue (653), Akwa Ibom (615), Bayelsa (608), Niger (547), Adamawa (540), Anambra (513), Ekiti (466), Jigawa (425), Taraba (258), Kebbi (248), Yobe (207), Cross River (169),  Zamfara (162), while Kogi state has recorded 5 cases only.

READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government

Lock Down and Curfew

In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.

The movement restriction, which was extended by another two weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.

Coronation ads

On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.

On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.

Governor Babajide Sanwo-Olu of Lagos State announced the closed down of the Eti-Osa Isolation Centre, with effect from Friday, 31st July 2020. He also mentioned that the Agidingbi Isolation Centre would also be closed and the patients relocated to a large capacity centre.

Due to the increased number of covid-19 cases in Nigeria, the Nigerian government ordered the reopening of Isolation and treatment centres in the country on Thursday, 10th December 2020.

Coronation ads

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

Stanbic IBTC

 

Jaiz bank ads

 

 

Continue Reading

Coronavirus

Combined Vaccine Manufacturing capacity to hit 6.8 billion doses in 2021

COVID-19 vaccine manufacturing capacity is expected to hit 6.8 billion doses in 2021.

Published

on

Covid-19: First world nations oppose waiving intellectual rights for vaccine development

Meristem Group disclosed that the combined effort in manufacturing COVID-19 vaccines for global use is expected to yield about 6.8 billion doses in 2021.

This was revealed in the Annual Outlook 2021 report presented by Meristem Group, titled Bracing for a different future.”

According to the report, the existing manufacturing capacity will only be sufficient enough to immunize about 44% of the global population, which would create obvious vaccination gap and make the pandemic last longer than necessary.

The report states,

  • The cold temperature requirements for vaccine storage pose major logistics concern particularly in Sub-Saharan Africa and other low-income countries. WHO estimates that about 50% of vaccines are wasted every year, largely due to a lack of temperature control.”

According to the report, the estimated 6.8billion doses are expected to be collaboratively manufactured as follows:  CanSino – 0.2billion, AstraZeneca – 3.0 billion, Gamaleya – 0.3billion, Moderna – 0.4billion, Pfizer-BioNtech – 1.3billion, SinoPharm – 1billion, and SinoVac – 0.6billion.

Specta

What you should know

  • The global population as of 2020 is 7.8billion and 70% is required to achieve herd immunity (otherwise called herd protection)
  • Herd Immunity or herd protection is achieved when you have most of the population immunized against an infectious disease.
  • 2 doses of the vaccines are required for each person for immunity.
  • It is expected that between 11 and 15 billion doses would be required to achieve the desired herd immunity, globally.
  • From all indications, herd immunity may not be achieved until mid or late 2022, with the subsisting 100% vaccine production capacity utilization in 2021 – with neither production nor distribution losses.
  • To achieve regulatory approval, a vaccine must undergo a three-stage clinical development process after the exploratory and pre-clinical stages and the U.S Food and Drug Administration (FDA) sets a phase 3 efficacy benchmark of 50%.

Continue Reading
Advertisement




Advertisement