UCrest seals deal to produce Sputnik V vaccine for Russian fund

PETALING JAYA: UCrest Bhd’s wholly owned subsidiary UCrest Technology Ltd yesterday signed a master service agreement with Human Vaccine, a wholly owned subsidiary of Russian Direct Investment Fund (RDIF), following the memorandum of understanding inked between their parent companies in April 2021 to identify, arrange and engage contract manufacturers to produce Sputnik V vaccines for RDIF.

Previously, UCrest announced that it has signed an agreement with three contract manufacturers in China to produce vaccines.

The definitive agreement states that all three of the contract manufacturing partners of UCrest have been qualified and approved for technology transfer and production of the vaccines by RDIF/Human Vaccine. As previously announced, the three contract manufacturers have committed to produce over 100 million doses of vaccines a year. Due to the dynamic changes of the pandemic, this agreement is signed for one year, and is renewable for another year.

To date, a total of 70 countries have approved the use of Sputnik V for protection against Covid-19. Based on observation, the approval and acquisition of vaccines of a country seem to be geopolitically influenced and as such the demand for Sputnik V remains strong.

UCrest chairman and CEO Eg Kah Yee said although many countries have started implementing vaccine programmes, it continued to receive inquiries from various countries on the acquisition of vaccines and demand remains strong while supply remains short.

“We will continue to facilitate the acquisition of the vaccines for the countries and the supplier,” he said in a statement today/

Source link

Leave a Reply