RDIF and Hualan Biological Bacterin agree to produce over 100 million doses of the Sputnik V vaccine in China
MOSCOW, April 19, 2021 /PRNewswire/ -- The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), and Hualan Biological Bacterin Inc. (a subsidiary company of one of China's leading biopharmaceutical producers and the largest influenza vaccine manufacturer, Hualan Biological Engineering Inc.), today have announced the cooperation on production of over 100 million doses per year of the world's first registered vaccine against coronavirus Sputnik V in China.
This amount of the vaccine will be sufficient to vaccinate over 50 million people. RDIF and Hualan Biological Bacterin are committed to the long-term partnership in terms of the vaccine production.
To date Sputnik V has been registered in 60 countries globally with total population of 3 billion people. Efficacy of Sputnik V is 91.6% as confirmed by the data published in the Lancet, one of the world's oldest and most respected medical journals.
The vaccine is based on a proven and well-studied platform of human adenoviral vectors and uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, commented:
"Cooperation agreement with Hualan Biological Bacterin, one of the leading vaccine manufacturers of China, will help significantly increase the production capacities of Sputnik V. China is one of the key partners in production of the Russian vaccine, which is already used virtually in every part of the world to protect people's health as Sputnik V has proved to be safe and highly effective".
Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF's management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 80 projects with foreign partners totaling more than RUB1.9 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate to more than 6% of Russia's GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at rdif.ru
SOURCE The Russian Direct Investment Fund (RDIF)
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