LOP questions Dei Biopharma’s debt status and ownership
After receiving a UGX 723 billion loan from the supplementary budget to support its struggling vaccine factory, pharmaceutical company Dei BioPharma has come under scrutiny. During a due diligence site visit to the factory, opposition legislators, led by Leader of the Opposition Joel Ssenyonyi, raised concerns about the factory's valuation, debt status, and ownership, particularly questioning the background of its proprietor, Dr. Mathias Magoola. In response, Dr. Magoola confirmed the factory's valuation at 2.1 billion US dollars and disclosed that the government holds a 9.4% stake in the company. He also assured the Leader of the Opposition that the first batch of medicines is expected to be produced this October.
