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The Chinese firm has already reached agreements to supply CoronaVac inoculation to countries such as Indonesia and Turkey.
China’s Sinovac Biotech has secured $ 515 million in funding to double production capacity for its coronavirus vaccine, it said on Monday, and efficacy data for its experimental drug will be delivered this month.
China’s Sino Biopharmaceutical investment comes as Sinovac expands supply agreements and trials of its COVID-19 experimental vaccine, CoronaVac, with more countries following positive results in early to mid-stage clinical trials.
Sino Biopharmaceutical’s investment will give it a 15.03 percent stake in Sinovac Life Sciences, a subsidiary of Sinovac, to aid the development and production of CoronaVac, it said in a statement to the Hong Kong Stock Exchange.
Sinovac said in a separate statement that it could manufacture 300 million doses of vaccines a year and aims to complete construction of a second production facility by the end of 2020 to increase the annual production capacity of the COVID-19 vaccine to 600 million. dose.
Sao Paulo State Governor Joao Doria, Butantan Institute Director Dimas Tadeu Covas and Health Secretary Jean Gorinchteyn welcome the arrival of 600 liters (158 gallons) of CoronaVac vaccine at Guarulhos International Airport in Sao Paulo. [Leonardo Benassatto/Reuters]
A container with China’s Sinovac COVID-19 vaccines arrives in Jakarta on December 6. Sinovac is supplying the vaccine to Indonesia and other countries. [Dhemas Reviyanto/Antara Foto via Reuters]
Depending on market conditions and the availability of financing, it could try to further expand its production capacity, Sinovac said.
Sinovac has secured CoronaVac supply agreements with several countries, including Indonesia, Turkey, Brazil and Chile, and is in talks with the Philippines for a possible sale.
CoronaVac is one of three experimental COVID-19 vaccines that China has been using to inoculate about a million people under an emergency use program.
Brazil’s Instituto Butantan, which is running a phase 3 trial of CoronaVac in the country, said last week that Sinovac was expected to publish the efficacy results of its vaccine trials by December 15.
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