Wednesday, 24 April 2024

South Korea to host production of 150M Sputnik V doses for global distribution

13 November 2020 | News

RDIF and GL Rapha intend to commence production in December 2020 and a rollout of the Sputnik V vaccine in January 2021

Photo Credit: Freepik

Photo Credit: Freepik

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), and GL Rapha, one of the leading South Korean bio-tech companies (including the subsidiary Hankook Korus Pharm) have agreed to produce over 150 million doses per year of the world’s first registered vaccine against the novel coronavirus infection – Sputnik V.

The parties intend to commence production in December 2020 and a rollout of the Sputnik V vaccine in January 2021. RDIF and GL Rapha will supply over 150 million doses per year produced in South Korea for global distribution.

The first interim analysis of The Sputnik V vaccine data of Phase III clinical trials in Russia has demonstrated 92% efficacy against coronavirus based on 20 confirmed COVID-19 cases split between vaccinated individuals and those who received the placebo. Currently 40,000 volunteers are taking part in double-blind, randomized, placebo-controlled Phase III clinical trials in Russia. Over 20,000 participants have been vaccinated with the first dose of the Sputnik V vaccine and more than 16,000 have received both the first and second doses of the vaccine.

Requests for more than 1.2 billion doses of the Sputnik V vaccine have been received by RDIF from over 50 countries. The vaccine supplies for the global market will be produced by RDIF’s international partners in South Korea, India, Brazil, China, and other countries. The existing RDIF contracts with international partners enable the annual production of 500 million doses of the Sputnik V vaccine outside Russia. RDIF is now considering additional requests from a number of countries and companies to further increase its foreign production capacities.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented, “Sputnik V is based on safe and effective platform of human adenoviral vectors. It is important to strengthen the international cooperation and partnership and make sure that enough of Sputnik V vaccine is produced to meet the global demand.”

Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn.

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