Business
European Investment Bank announces 14 million euros loan to Emzor Pharmaceuticals
The European Investment Bank has announced 14 million euros to Emzor Pharmaceuticals to establish the first active pharmaceutical ingredient (API) manufacturing plant to accelerate treatments against malaria.
This partnership, a significant milestone in healthcare initiatives paves the way for the first active pharmaceutical ingredients (API) manufacturing plant in Nigeria and Africa.
The plant will be focusing on the production of high-quality and affordable anti-malarial drugs.
The plant will also be the first anti-malarial active pharmaceutical ingredients manufacturing plant in Africa.
Emzor Pharmaceutical Industries Limited acquired this loan to develop a $23 million plant, which is now near completion.
The API for Africa (APIFA), a non-profit organisation committed to transforming pharmaceutical manufacturing in Sub-Saharan Africa, played a significant role in bringing the partnership to fruition.
It is a significant milestone in Africa’s healthcare sector and APIFA’s overarching mission to transform pharmaceutical manufacturing across Africa.
The Chief Executive Director of APIFA, Dr Frank Keffer, emphasized that the partnership would enhance access to quality for Africans.
Emzor Pharmaceuticals has partnered with India’s Mangalam Drugs and Organics Limited for technology transfer training, testing and initial production at the site.
- Politics5 days ago
Tight grip: Govs devise new strategies to keep LGs under control
- News1 week ago
Soludo Announces ₦70,000 Minimum Wage for Anambra Workers
- News7 days ago
Obasanjo Urges Gov Abiodun to Support Owu Community’s Agricultural Initiative
- Business5 days ago
NNPC raises petrol price again to N1025 in Lagos, N1050 in Abuja
- Business1 week ago
Dangote Refinery ships first 79.4 Million litres of Petrol by sea to domestic market — Report
- News1 week ago
Ex-Ondo Speaker Oloyelogun Faces Possible Jail for Alleged ₦2.4m Fraud
- News1 week ago
Court Summons DSS Chief Over Contempt in Nnamdi Kanu’s Case
- News1 week ago
Federal Govt Offers 50% Tax Relief on Wage Hikes