China's Rhodiola set to sell and test Russia's Sputnik-V vaccine

HONG KONG/BEIJING (Reuters) - China's Tibet Rhodiola Pharmaceutical Holding announced a deal on Wednesday to manufacture, sell and test Russia's COVID-19 vaccine in China, hours after interim results showed it was 92% effective at protecting people from the disease. The initial results of the Sputnik V vaccine are only the second to be published from a late-stage human trial in the global effort to produce vaccine that could halt a pandemic that has killed more than 1.2 million people and ravaged the world economy.

Reuters November 12, 2020 00:12:06 IST
China's Rhodiola set to sell and test Russia's Sputnik-V vaccine

Chinas Rhodiola set to sell and test Russias SputnikV vaccine

HONG KONG/BEIJING (Reuters) - China's Tibet Rhodiola Pharmaceutical Holding announced a deal on Wednesday to manufacture, sell and test Russia's COVID-19 vaccine in China, hours after interim results showed it was 92% effective at protecting people from the disease.

The initial results of the Sputnik V vaccine are only the second to be published from a late-stage human trial in the global effort to produce vaccine that could halt a pandemic that has killed more than 1.2 million people and ravaged the world economy.

Rhodiola said it plans to conduct early and mid-stage trials of the Russian vaccine in China and final-stage trials overseas, although the trials are yet to be approved by regulators.

Rhodiola, currently unable to produce the Russian vaccine, said it would outsource early development and manufacturing work, and would also consider building production lines at its subsidiary.

The deal requires Rhodiola's unit to supply the Russian firm with enough vaccine doses to inoculate at least 20 million people in 2021. It adds to several manufacturing deals Russia has announced so far, including a plan to produce 300 million doses in India.

While China has five vaccines in the final stage of clinical trials, local firms have also partnered with foreign drugmakers to test and supply front-running vaccines in the country.

Shanghai Fosun Pharmaceutical Group is seeking regulatory approval to trial a product from Pfizer and BioNTech, and Shenzhen Kangtai Biological Products aims to begin human tests for AstraZeneca's candidate this year.

(Reporting by Roxanne Liu and Meg Shen, editing by Louise Heavens and Bernadette Baum)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

U.S. job openings rise slightly in September
Business

U.S. job openings rise slightly in September

WASHINGTON (Reuters) - U.S. job openings increased moderately in September and layoffs appeared to abate, pointing to a gradual labor market recovery from the COVID-19 pandemic.

Central bankers seek new role in brave new world
Business

Central bankers seek new role in brave new world

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) - Taking a break from fighting the coronavirus crisis, the world's top central bankers will attempt to resolve the existential questions of their profession this week as they tune into the European Central Bank's annual policy symposium. Having struggled to lift anaemic inflation for years, officials including the heads of the ECB, the U.S. Federal Reserve and the Bank of England will attempt to figure out why monetary policy is not working as it used to and what new role they must play in a changed world - be it fighting inequality or climate change.

Asian stocks extend gains as vaccine hopes support global reopening
Business

Asian stocks extend gains as vaccine hopes support global reopening

By Lawrence Delevingne BOSTON (Reuters) - Asian shares rose on Wednesday as hopes for a successful coronavirus vaccine lifted expectations of a swift reopening of the global economy, which would help the region's heavily trade-dependent markets.