Pfizer/BioNTech collaboration with Biovac a welcome boost to the economy in Western Cape
21 July 2021
We welcome the announcement today by Pfizer Inc. and BioNTech SE that they have signed a letter of intent with the Biovac Institute (Pty) Ltd., which are a pharmaceutical company based in Cape Town, to manufacture the Pfizer-BioNTech COVID-19 Vaccine for distribution to Africa.
The Biovac Institute has long been a centre of excellence for the development and manufacture of quality vaccines for Africa. This announcement is also a welcome boost of confidence to the economy in Cape Town and the Western Cape, which is already a leading hub for health tech and innovation in the medical sector.
The Western Cape has one of the highest concentrations of medical device and healthcare companies in the country, and the health technology sector contributes an estimated 2,500 full time jobs and R1.7 billion to the economy in the Western Cape.
We remain committed to working together with the private sector who have shown great innovation and support in our response to the Covid-19 pandemic and our vaccination rollout strategy in the Western Cape.
Issued by Francine Higham, Spokesperson for the Provincial Minister of Finance and Economic Opportunities (Responsible for the Provincial Treasury and the Department of Economic Development and Tourism), 21 July 2021