logo
  

Merck KgaA Signs Deal With IB To Support Establishment Of Vaccine Production Facility In Nigeria

German drug giant Merck KgaA (MKGAY.PK) said that it has signed an agreement with biotechnology company Innovative Biotech to design the manufacturing process for the first vaccine production facility in Nigeria.

The collaboration is part of the West African pandemic readiness program, which aims to localize vaccine development in the African nations. The first phase of the partnership focuses on designing the fill and finish facility, incorporating the company's Mobius single-use technology, while the second phase will focus on enabling continuous manufacturing.

Innovative Biotech's licensor, TechnoVax, is developing a virus-like-particle (VLP)-based vaccine to target variants of Covid-19.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration or FDA has urged infant formula manufacturers to import infant formula products to the United States to meet the ongoing severe supply shortage. In order to further increase the availability of infant formula in the country, while protecting the health of infants, the regulator announced a guidance outlining increased flexibilities for the global manufacturers Retail giant Walmart Inc. reported Tuesday a profit for the first quarter of fiscal 2023 that declined 24.8 percent from last year, hurt by lower gross margins and net losses on equity investments. Adjusted earnings per share also missed analysts' expectations, but quarterly revenues topped it. The retailer also cut its earnings guidance for the second quarter and for the full-year 2023. Billionaire and Tesla CEO Elon Musk, who is in deal to acquire Twitter Inc., may seek a lower price for the social media platform as he estimates that there could be at least four times more fake accounts than what the company informed, Reuters reported. It was in late April that Twitter agreed to accept Musk's about $44 billion takeover offer and to become a privately held company.
Follow RTT