FG, May & Baker renew joint venture over vaccine production

Determined to combat all preventable diseases in the country, the Federal Government has renewed its joint venture agreement with May & Baker Nigeria Plc for the local production and distribution of vaccines in Nigeria.The agreement will see May & Baker producing vaccines that will help eliminate and reduce the impact of preventable diseases across the length and breadth of the country.The Chairman, May & Baker, General Theophilus Danjuma (Rtd), who stated this at the company's 6 Annual General Meeting in Lagos, said the company was notified of the renewal by the Federal Ministry of Health.According to him, the renewal would secure the health of a vast majority of Nigerians, especially children and women who are most vulnerable to vaccines preventable diseases.'With this development, the future of our subsidiary, BioVaccines Nigeria Limited is cleared. We expect that the appointment of new board members for the company will be accomplished soon to enable it take off effectively,' he said.He said the company was committed to ensuring that BioVaccines operations are kick started going by its immense public health interest to Nigerians.He lamented the delay in getting the necessary approval from the regulatory authorities to restart the operations of the subsidiary.He said, 'It is rather unfortunate that despite all efforts by management and the Board during the past, we are yet to get the final approval from government to restart operations of BioVaccines.'I, however, wish to reassure all our shareholders that our company has a strong case with this project and we will not rest until we accomplish our goal of getting this company operational.'At the meeting, shareholders of the company unanimously agreed that the company seek funding to boost its operations.In a special resolution, the shareholders agreed that the company approach the Chairman and its company ' TY Holdings, for funding, with terms to be agreed by both parties at a later date.
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