India's Biological E., U.S. body finalise $50 mln COVID-19 shot financing deal

The United States and India's Biological E. Ltd said on Monday they had finalised a financing arrangement for $50 million to expand the vaccine maker's capacity to produce COVID-19 shots. The agreement was struck in March when leaders of the United States, Australia, Japan and India - the so-called 'Quad' countries - met during a virtual summit. The United States had said it would work via its International Development Finance Corp to finance Biological E.'s efforts to produce at least 1 billion COVID-19 vaccine doses for India and developing countries by the end of 2022