Chinese firm Sinovac to boost production capacity to 600 mn doses for Covid-19 efforts
Indonesia has received 1.2 million doses of its experimental vaccine and is expected to approve it for use soon.
Chinese vaccine company Sinovac announced Monday that it is planning to complete a new facility to double its annual vaccine production capacity to 600 million doses by the end of the year, while also securing a $500 million investment in a boost to its Covid-19 vaccine development efforts. The company is currently conducting the last stage of clinical trials for its vaccine candidate in Brazil, Turkey and Indonesia and is among the frontrunners of China's vaccine efforts.
China has at least five Covid-19 vaccine candidates running late stage clinical trials across more than a dozen countries.
Sino Biopharmaceutical Ltd., a pharmaceutical conglomerate, bought a 15 percent stake in Sinovac for an investment of $500 million. The funds will allow the company to “improve our vaccine sales capabilities, expand in Asia markets, develop and access new technologies, and most importantly, accelerate our efforts to help combat the global pandemic," Sinovac CEO Yin Weidong said in a statement.
On Sunday, 1.2 million doses of its experimental vaccine arrived in Indonesia and are expected to be approved for use soon.
Sinovac's candidate is a two-dose inactivated vaccine, an old-school technology in which a live virus is killed and then purified. It can be stored at 2 to 8 C (36 to 46 F), within the range of a normal refrigerator, unlike some other vaccines candidates that require far lower temperatures.
Sinovac's experimental vaccine is currently approved for emergency use in China, although it has not yet obtained final market approval. Under emergency use, it has been distributed to groups the Chinese government deemed suitable, including front-line medical workers and border personnel.
The latest public data from the company, published in the science journal Lancet, showed its candidate produced lower levels of antibodies in people than those who have recovered from Covid-19.
The country also boasts of world's second-largest fleet of commercial shipping vessels and, if the US Naval Intelligence is to be believed, China has surpassed the US in terms of total battle-force ships
It is learnt that the Chinese president prefers to be treated with traditional Chinese medicines rather than opting for surgery for the disease
In its annual threat assessment, the US intelligence community said the expanded military posture by both India and China along the disputed border elevates the risk of armed confrontation between the two nuclear powers