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BEFORE the anticipated massive launch of Covid-19 vaccines in Malaysia next year, private sector players are positioning themselves to fill any gaps in the vaccine supply chain, despite Putrajaya’s supply agreement with Pfizer and access global to the Covid-19 vaccine (COVAX) facilities.
Comments from the Minister of Science, Technology and Innovation, Khairy Jamaluddin, that the vaccine deals by private companies are purely commercial and unrelated to the government, have not dampened the private sector’s interest in supplying the vaccine. Covid-19.
Local companies that have jumped on the bandwagon say they are not overly concerned as they believe they have a role to play in the supply chain, especially if they can source vaccines that are safer or more affordable.
MyEG Services Bhd, which has signed an agreement with China’s Anhui Zhifei Longcom Biopharmaceutical Co Ltd (Zhifei) to supply its vaccine, believes the government will also secure supplies from the private sector.
“While the government has announced that it is currently working only with Pfizer and COVAX, we nonetheless believe that Covid-19 vaccines will be part of the new normal in a post-Covid era, and therefore we trust that the government will not be limited to just the aforementioned providers, but you would want to be prudent in expanding your options if there were a safer and more affordable vaccine that also qualifies for halal certification, ”says MyEG Services (MyEG) co-founder and managing director Wong Thean Soon edge.
“After all, this would be consistent with the government’s intention to catalyze the local vaccine industry, as evidenced by the provision of various incentives in the recently announced budget,” he adds.
Yong Tai Bhd CEO Datuk Wira Boo Kuang Loon agrees that while it is the right decision for the government to take the lead in sourcing the vaccines, private sector involvement is also needed.
“Private companies need to come in and get more supply for the government. That’s where we play the role, ”he says.
“The vaccine problem is not about who starts first; it’s about production capacity. For a country to achieve herd immunity, it is necessary that between 60% and 70% of the population receive the injection. “
Boo points out that it can take years for Malaysia to get a sufficient supply of vaccines, and therefore both the public and private sectors have to work at the same time.
“Since COVAX is an equitable distribution, can Pfizer make up the shortfall?” he asks. COVAX is an initiative by the World Health Organization to level the playing field and aims to deliver at least two billion doses of vaccines worldwide by the end of next year.
Prime Minister Tan Sri Muhyiddin Yassin has said that the government is looking to increase the purchase of the Covid-19 vaccine to meet the immunization needs of 60% to 70% of Malaysians, compared to 30% today.
Pfizer will supply 12.8 million doses of Covid-19 vaccines to meet the immunization needs of 20% of the population, or 6.4 million people, while the acquisition agreement with COVAX is for another 10% of the population. .
Private sector in urgent need of vaccinations for workers
Solution Group Bhd CEO Barry Lim points to the thousands of private sector workers, especially foreign workers, who urgently need vaccination.
“I don’t think they can wait for the government supply. We are also actively involving partners in the Asean countries ”.
It’s worth noting that Solution received approval from the National Drug Regulatory Agency (NPRA) last Thursday for the design plan and layout of its vaccine filling and finishing facility. This means that the company can begin construction of the facility, which is expected to be ready by March next year.
The expansion will be financed by its recent private placement to raise RM18.67 million. At the end of this month an extraordinary general meeting will be held for its diversification proposal in the pharmaceutical business.
Among companies venturing into vaccine distribution, Solution has been the best performer in terms of stock price performance since it announced its company in August. The stock hit an all-time high of RM2 on December 7, which is 20 times its 10 sen price earlier this year.
Cost of a dose
In the UK, mass immunization with the Pfizer vaccine has already taken off and other countries are expected to follow suit in curbing the pandemic, which has cost more than a million lives around the world.
But how much does a vaccine dose cost?
Khairy has denied allegations that Pfizer’s vaccine costs RM234 per dose, but maintains that he cannot disclose the exact price as the government is bound by a nondisclosure agreement. However, he says the cost is significantly lower than RM100 per dose, including delivery to multiple vaccination sites.
Yong Tai’s Boo says that the company’s vaccine will not exceed $ 20 per dose, excluding logistics and distribution costs.
“In any case, we will have a discount [from the vaccine partner] and they allow us to recover the investment for the test ”.
Yong Tai will spend between 15 and 20 million ringgit on the phase 3 clinical trial to be carried out in Malaysia.
Solution’s Lim says the company is still in negotiations with his partner, but emphasizes that the price will be less than $ 21 a dose.
As for MyEG, Wong notes that the price of its vaccines will depend on volume, but it will remain competitive.
The company has been collaborating with the Ministry of Health and the relevant authorities in its planned distribution.
Under the agreement with Zhifei, MyEG has the exclusive rights to distribute the vaccine in Malaysia for a period of three years.
Zhifei, a subsidiary of Chongqing Zhifei Biological Products Co Ltd, listed on the Shenzhen Stock Exchange, is one of five Chinese companies conducting phase 3 clinical trials. Zhifei has enjoyed a 200% jump in the price of your actions to date.
MyEG’s share price rose to a high of RM2.19 on December 7 and has gained 80.9% to date.
MyEG says it will complete local phase 3 clinical trials under the supervision of Clinical Research Malaysia (CRM) to ensure the vaccine is safe and meets efficacy requirements for the country’s population of 33 million.
“We intend to strengthen the competencies of our team by incorporating, where necessary, people with the appropriate experience, knowledge and skills throughout the different stages of the journey.
“We are ready to go and we are engaging CRM and a clinical research organization to finalize the schedule.”
Other players involved in the distribution of vaccines are Pharmaniaga Bhd, Kanger International Bhd, Bintai Kinden Corp Bhd, Ho Wah Genting Bhd and, lastly, Metronic Global Bhd.
Metronic’s vaccine partner Medigen Vaccine Biologics Corp of Taiwan will reportedly only begin its phase 2 clinical trials early next year.
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