Bottles of Russia’s “Sputnik-V” COVID-19 vaccine will be seen before vaccination at a clinic in Tver, Russia, on October 12, 2020. REUTERS / Tatyana Makeyeva
South Korea’s Huons Global Co Ltd (084110.KQ) will lead a consortium to produce 100 million doses of Russian Sputnik V COVID-19 vaccine per month, as Moscow wants to increase production worldwide to meet the growing demand.
The agreement to produce Sputnik V – for export rather than domestic use – is the second in South Korea and follows after the biotechnology firm GL Rapha signed an agreement at the end of last year to produce more than 150 million doses of the vaccine per year make.
Shares in Huons Global jumped 29.8% to their daily limit on Friday, reaching their highest level since September 2018.
Huons said on Friday that his consortium would start producing sample productions in August and respond flexibly to the demand of the Russian Direct Investment Fund (RDIF), the Russian wealth fund.
The consortium includes three other local companies – Prestige BioPharma (950210.KS), Humedix (200670.KQ) and Boran Pharma – which will build a new production facility, Huons said in a statement.
GL Rapha, who became the second foreign producer of the vaccine after Russia announced it was effective in early November, is awaiting final approval of the product after sending samples to Russia for ratification.
The official said he plans to scale up production to reach the production target of 150 million by the end of the year.
India on Monday became the latest country to approve Sputnik V as it struggles with record infections, spurred on by hundreds of positive tests during a major religious gathering. read more
The Indian ambassador to Moscow said on Friday that the delivery of Sputnik V to India is expected to begin before the end of April. read more
The European Medicines Agency (EMA) is conducting an ongoing review of the Russian vaccine, as many European countries are seeking to abolish vaccination programs hampered by delayed delivery. read more
South Korea has approved three vaccines, from AstraZeneca (AZN.L), Pfizer (PFE.N) and Johnson & Johnson (JNJ.N), but has not begun reviewing Sputnik V for approval.
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