CBN To Have Property Right Over Financed R&D Projects
The Central Bank of Nigeria will have property right over the outcome of all financed Research and Development projects in the country.
The apex bank also said it will equally have rights to all licensing protocols for the mass manufacturing of developed drugs, phytomedicines and vaccines.
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CBN said this in the Health Research and Development Grant Guidelines recently released.
According to the bank, the licencing protocols for mass production of drugs, phytomedicines and vaccines will be defined by the Body of Experts following the World Health Organisation’s Good Manufacturing Practices.
The bank noted that, “Periodic joint monitoring of research and development activities shall be conducted by the BoE.”
The CBN had introduced the Healthcare Sector Research and Development Intervention Scheme to help strengthen the public healthcare system with
innovative financing of R&D in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.
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The apex bank introduced the HSRDIS as a policy response to the COVID-19 pandemic.
The bank also said the move would boost domestic manufacturing of validated drugs (Active Pharmaceutical Ingredients) herbal medicines and vaccines for the control, prevention and treatment of infectious diseases in Nigeria and reduce the nation’s dependence on other countries for these drugs and vaccines.
