China's Sino Biopharmaceutical invests $515 million in Sinovac to boost vaccine production
SHANGHAI (Reuters) - China's Sino Biopharmaceutical Limited said on Monday it would invest $515 million in Sinovac Biotech, which Sinovac said would help it to double its COVID-19 vaccine production capacity. The investment will give Sino Biopharmaceutical a 15.03% interest in Sinovac, Sino Biopharmaceutical said in a statement on the website of the Hong Kong Stock Exchange.
SHANGHAI (Reuters) - China's Sino Biopharmaceutical Limited said on Monday it would invest $515 million in Sinovac Biotech, which Sinovac said would help it to double its COVID-19 vaccine production capacity.
The investment will give Sino Biopharmaceutical a 15.03% interest in Sinovac, Sino Biopharmaceutical said in a statement on the website of the Hong Kong Stock Exchange.
Sinovac said in a statement on its website that it expects to be able to manufacture 300 million vaccine doses annually, and that it 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.
(Reporting by Andrew Galbraith; Editing by Sam Holmes)
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