Jefferies joins public-private partnership responding to Covid-19

Jefferies Financial Group (JEF -4%) steps up to support a newly established public-private consortium launched by the U.S. Department of Health and Human Services to provide surge capacity for hundreds of millions prefilled syringes to respond to health emergencies arising from the Covid-19 outbreak.

As the first private-sector entity to join this public health initiative, Jefferies will provide access to its client network, management team, global financial resources, and an immediate initial seed capital commitment of at least $10M to jumpstart the network as quickly as possible.

Called RAPID — Rapid Aseptic Packaging of Injectable Drugs — the consortium will create a high-volume drug packaging solution using Blow-Fill-Seal, a process used in sterile manufacturing facilities that use small medical-grade plastic containers to hold prefilled volumes of medicines or vaccines.

RAPID will build a domestic surge capacity network of up to eight packaging facilities using BFS.

Source: Seekingalpha