Biological E (IFC-39488)

Regions
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 5, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BIOLOGICAL E. LIMITED (BioE)
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jul 5, 2018

Disclosed by Bank May 26, 2017


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Project Description

According to IFC website, the Biological E Limited, based in Hyderabad, India, develops and manufactures vaccines which are supplied within India and to other developing and middle-income countries either directly or through supplies to United Nations Children’s Fund (UNICEF) and the Global Alliance for Vaccines and Immunizations (GAVI). The Company is World Health Organization (WHO) pre-qualified for the liquid pentavalent vaccine (LPV) and the Japanese encephalitis (JE) vaccine. In pharmaceuticals, the Company manufactures generic formulations for the Indian market. The company is now aiming to scale up its product offerings to include a wider range of vaccines and is setting up new manufacturing facilities in Shameerpet, Hyderabad, India for these products. Immunization prevents illnesses from vaccine-preventable diseases, thus aiding in prevention of disability and death, in addition to lowering costs of healthcare and preventing productivity losses due to these illnesses. India’s Universal Immunization Programme (UIP), introduced in 1985, has made great progress in expanding Routine Immunization (RI) coverage across the country, and today, it is one of the largest programmes of its kind in the world. The project will support a research-driven mid-cap company to diversify its product range and increase access to good quality affordable vaccines in India and other developing countries, create direct and indirect jobs and increase manufacturing capacity in India. Specifically, the project intends to: 

1. Children and Patients reached: It will increase the availability of affordable vaccines which can prevent potentially-fatal childhood diseases.

2. Direct and indirect employment creation.

3. Research and Development: the company invests significantly in Research and Development which is key to building a pipeline of products for under-met medical needs.

 

Investment Description
  • International Finance Corporation (IFC)
Contact Information

Project Contact: Anil Kumar Chiti, Biological E Limited

Address: Plot no. 623-H, Road no. 35, Jubilee Hills, Hyderabad – 500 033. INDIA

Email Address: Anil.Chiti@biologicale.com

Contact No.: +91 40 3012 8309

 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/