Panacea Biotec Secures $20 Million Loan from U.S. DFC for Hexavalent Vaccine Expansion

Panacea Biotec Limited announced that the U.S. International Development Finance Corporation (DFC), the U.S. Government’s development finance institution, has committed to providing a long-term loan of up to $20 million to the company. 

Panacea Biotec, a leading biotechnology firm in India, developed the world’s first fully liquid hexavalent vaccine, EasySix®, which combines whole-cell pertussis (wP) and inactivated polio vaccine (IPV). Launched in India in March 2017, EasySix® offers an innovative alternative to existing pentavalent and standalone IPV vaccines, reducing the number of vaccination sessions and increasing coverage.

The World Health Organization and the Strategic Advisory Group of Experts on Immunization have endorsed the vaccine for global immunisation programs. Organisations like Gavi and the Pan American Health Organization have also adopted it, with UNICEF forecasting a demand of 19 million doses by 2025 and over 100 million doses by 2030. 

The $20 million loan from DFC will help Panacea Biotec expand its manufacturing capacity to meet the increasing demand, ensuring a steady supply of the vaccine for childhood immunisation through U.N. agencies worldwide. The financing agreement was finalised on September 12, 2024.

Commenting on this development, the Chairman and Managing Director of Panacea Biotec, Dr Rajesh Jain, said, “We are excited to have DFC as our partner in our mission to protect children from critical diseases by providing innovative and affordable vaccines across the globe. Our hexavalent vaccine EasySix®, which meets the highest standards of safety and efficacy, will have a meaningful impact on the lives of millions of newborns in the developing world.”

Deputy CEO of DFC, Ms Nisha Biswal, said, “Our partnership with India is both local and global. DFC is working to deliver concrete developmental impact for communities across India, and we are partnering with the Indian private sector to tackle some of the world’s most pressing challenges.”

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.