Bottles of Russia’s “Sputnik-V” COVID-19 vaccine are seen before inoculation at a clinic in Tver, Russia, Oct. 12, 2020. REUTERS / Tatyana Makeyeva
South Korean Huons Global Co Ltd (084110.KQ) will lead a consortium to produce 100 million doses of Russia’s Sputnik V COVID-19 vaccine per month as Moscow seeks to increase production globally to meet rising demand .
The agreement to produce Sputnik V – for export rather than domestic use – is the second in South Korea and comes after biotech company GL Rapha signed an agreement late last year to make more than 150 million doses of the vaccine per year.
Shares in Huons Global rose 29.8% to their daily limit on Friday, hitting its highest level since September 2018.
Huons said Friday that his consortium will begin producing sample batches in August and will respond flexibly to demand from Russia’s Direct Investment Fund (RDIF), Russia’s sovereign wealth fund.
The consortium includes three other local companies – Prestige BioPharma (950210.KS), Humedix (200670.KQ) and Boran Pharma – which will build a new manufacturing facility, Huons said in a statement.
GL Rapha, who became the second foreign producer of the vaccine after Russia announced its efficacy in early November, is awaiting final approval of its product after sending samples to Russia for validation, a GL Rapha official said.
The official said it plans to scale up production to meet its 150 million production target by the end of this year.
On Monday, India became the last country to approve the Sputnik V as it grapples with record infections, spurred by hundreds of positive tests at a major religious rally. read more
India’s ambassador to Moscow said on Friday that 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 evaluation of the Russian vaccine as many European countries try to ramp up vaccination programs hampered by delivery delays. read more
South Korea has approved three vaccines, from AstraZeneca (AZN.L), Pfizer (PFE.N), and Johnson & Johnson (JNJ.N), but has not yet begun reviewing Sputnik V for approval.
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