An investment in one of India’s top vaccine manufacturers, Biological E Limited (BioE), will expand access to low-cost
vaccines for children in developing countries and help increase production of a COVID-19 vaccine when developed, a key
step in saving lives and restarting economies.
IFC, a member of the World Bank Group, is providing a senior loan of up to $30 million to BioE to support the
Hyderabad-based company’s expansion of its range of low-priced, generic vaccines for routine immunization of children.
Furthermore, the financing package aims to support the production of new vaccines and boost the company’s capacity for
manufacturing any future COVID-19 vaccine.
BioE, an IFC client since 2017, primarily supplies its vaccines to developing countries through the United Nations
Children’s Fund (UNICEF) and Gavi, the Vaccine Alliance. It has immunized over 2 billion children around the world. The
more than 500 million doses of pediatric vaccines BioE produces annually serve to immunize children in more than 130
countries every year.
IFC’s financing will help increase production of vaccines and, thus, competitiveness of the vaccine market geared toward
the developing world, pushing other manufacturers to lower their prices when selling through international groups like
Gavi and UNICEF to support country-led immunizations.
“We welcome IFC’s long-term financing at this crucial time, when we are gearing up to expand our vaccine-products
portfolio for routine immunization,” said Mahima Datla, Managing Director of Biological E. Limited. “We are also working toward the development and manufacturing of a potential COVID-19 vaccine. We look forward to
strengthening our strategic partnership with IFC.’’
“Vaccines are one of the most critical and cost-effective means of improving health outcomes in emerging markets like
India,” said Stephanie von Friedeburg, interim Managing Director and Executive Vice President, and Chief Operating
Officer, of IFC. “At IFC, we are excited to make this timely investment in BioE, a research-driven company that is
gearing up to expand its vaccines for the immunization of children and address global health challenges, including the
unprecedented COVID-19 crisis.”
With more than 9.9 million cases and around 143,700 deaths as of December 16, the pandemic has stretched India’s health
facilities. Delivering an affordable vaccine is critical for the containment of the health crisis in the country and
elsewhere, and to minimize the pandemic’s economic consequences.About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in
emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and
opportunities in developing countries. In fiscal year 2020, we invested $22 billion in private companies and financial
institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared
prosperity. For more information, visit www.ifc.org.About Biological E. Limited
Biological E. Limited (BE), a Hyderabad-based Pharmaceuticals & Biologics Company founded in 1953, is the first private sector biological products company in India and the first
pharmaceutical company in Southern India. BE develops, manufactures and supplies vaccines and therapeutics. BE supplies
its vaccines to over 130 countries and its therapeutic products are sold in India and the USA. BE currently has 8
WHO-prequalified vaccines in its portfolio.
In recent years, BE has embarked on new initiatives for organizational expansion such as developing generic injectable
products for the regulated markets, exploring synthetic biology and metabolic engineering as a means to manufacture APIs
sustainably, and developing novel vaccines for the global market.
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