QUITO – Ecuadorian state pharmaceutical firm Enfarma EP and China’s Sinopharm have signed a $53 million agreement to produce medications in the Andean nation, Ecuador’s Ministry of Industries and Productivity said.
The Chinese company will provide technical assistance and financing to reopen a vaccine plant that operated until 2014 in the coastal city of Guayaquil.
The accord is crucial to resuming the manufacture of seven types of vaccines and anti-venom treatments and to plans for the construction of two facilities for vaccine production in the city of Duran, the ministry said in a statement.
“We will add between eight and 14 vaccines to current production and this will help to care for Ecuadorians’ health,” Minister Eduardo Egas said during the signing ceremony.
The alliance fits with the government’s goal of ensuring access to high quality medications at affordable prices, Egas said.
State-owned Sinopharm International Corporation is an integrated pharmaceutical firm.