Multinational Pfizer has pledged to invest a further R255m into South Africa’s pharmaceutical sector through its partnership with the Biovac Institute. This is a critical step forward in strengthening sustainable access to a vaccine in the fight against the worldwide pandemic and will create opportunity to more broadly distribute vaccine doses to people in harder-to-reach communities, especially those on the African continent.
The announcement was made by Pfizer’s regional president for Africa and the Middle East (AfME) Patrick van der Loo, at the 4th SA Investment Conference held at the Sandton Convention Centre last Thursday (24 March).
“Our company purpose is centred around breakthroughs that change patients’ lives. We are taking another significant step towards making this a reality for our patients in this country,” said Van der Loo.
Two days previously, he had conducted a site tour of the Biovac facility to meet the Institute’s leadership team and its employees. “This is one of the few countries to meet the criteria for Pfizer’s technology transfer initiatives in the vaccine space. We hope to continue being a vector for greater knowledge transfer into South Africa and the continent, and ensure a future with the sustainable supply of affordable vaccines and other medicines in Africa,” he added.
Pfizer and Biovac’s long-standing history
This was the latest venture in Pfizer's partnership with Biovac, which stretches back to 2015 when the companies began working together on sterile formulation, fill, finish, and distribution of the pneumococcal conjugate vaccine. The use of this vaccine has demonstrated significant health value in South Africa, resulting in a reduction in childhood deaths under the age of five.
In 2021, to accelerate the access of COVID-19 vaccines, Pfizer signed a landmark letter of intent with Biovac, appointing the company to manufacture the Pfizer-BioNTech COVID-19 vaccine for distribution within the 55 member states that make up the African Union. This earned Biovac the enviable title of becoming the first company on the African continent to produce an mRNA-based vaccine.
It was a move that AU champion on COVID-19 President Cyril Ramaphosa described as a breakthrough. “This partnership demonstrates what we can achieve when the state sector and the private sector craft a shared vision and pool resources for the greater good of society.”
Pfizer echoes the president’s belief in the potential that the public-private partnerships model holds to address medical needs, strengthen the country’s health system and help generate new forms of economic activity. The company anticipates that this investment will deliver jobs on both ends of the skills spectrum, creating direct opportunities for highly qualified individuals and indirectly driving job creation through manufacturing, distribution, and other providers.
South Africa as a regional hub
Building South Africa’s innovative capacity along with its research and development capabilities is critical and will cement its status as a regional power, which will bode well for the sub-Saharan region.
Over the years, there have been significant efforts made to position South Africa as the preferred regional hub for innovative pharmaceutical companies. The country now leads the world in the number of health partnerships with innovative multinational pharmaceutical companies and is increasingly seeing the benefits of being a regional knowledge hub.
“Through this latest investment contribution, Pfizer seeks to reiterate its support of the government's developmental agenda and its quest to promote access to quality, affordable and universal healthcare. We are proud to play a part in ensuring the health and wellbeing of South Africans,” said Van der Loo.
Issued by Pfizer