Wednesday, December 1, 2021
Slider
Home South Asia Sinovac Got $515 Million Fund To Double Production Of Covid Vaccine

Sinovac Got $515 Million Fund To Double Production Of Covid Vaccine

On Monday, China’s Sinovac Biotech announced that it has secured $515 million in funding from a local firm to double production capacity of its coronavirus vaccine, as it expects efficacy data of its experimental shot this month.

On Mondaay, China’s Sino Biopharmaceutical Limited said a business unit will invest $515 million in Sinovac Life Sciences, a subsidiary of Sinovac, to help development and production of CoronaVac.

The investment will give Sino Biopharmaceutical a 15.03% interest in Sinovac Life Sciences, Sino Biopharmaceutical said in a filing to the Hong Kong Stock Exchange.

Sinovac said in a separate statement that it would be able to manufacture 300 million vaccine doses annually and aims to complete construction of a second production facility by the end of 2020 to increase annual COVID-19 vaccine production capacity to 600 million doses.

Sinovac has secured CoronaVac supply deals with several countries including Indonesia, Turkey, Brazil and Chile, and is holding talks with the Philippines for a potential sale.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Ranveer brings India’s greatest cricket story alive in ’83’ trailer

The trailer for Ranveer Singh-starrer film '83' is finally revealed bringing alive one of the most memorable moments of Indian cricket.Ranveer plays the role...

After declaring amnesty, Taliban hunt down Afghan security forces

The Taliban immediately executed some former security force members in front of their families or have left their bodies where they were likely to...

Pakistani model apologizes after her barehead photoshoot at Kartarpur Sahib Gurdwara triggers row

A Pakistani model has triggered controversary with her “barehead” photoshoot at Gurdwara Darbar Sahib in Kartarpur that has hurt the sentiments of the Sikh...

WHO: Delta variant still responsible for 99% of Covid-19 cases globally

While the world is on high alert due to the new Omicron Covid-19 strain, Delta variant continues to be a major cause of the...

Recent Comments