RDIF and TopRidge Pharma agree to produce over 100 million doses of the Sputnik V vaccine in China
Moscow, April 1, 2021 – The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund), and TopRidge Pharma (a subsidiary company of one of China’s pharmaceutical market leaders, Tibet Rhodiola Pharmaceutical Holding), have agreed to cooperate 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. The parties also intend to cooperate on clinical trials of the vaccine in China and promotion of Sputnik V in the country. TopRidge Pharma will be able to distribute the vaccine in mainland China as well as in Hong Kong, Macao and Taiwan subject to all appropriate regulatory approvals.
To date Sputnik V has been registered in 58 countries globally with total population of over 1.5 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 with Tibet Rhodiola will help increase production capacities of the Sputnik V in China to provide the necessary amounts and help partners in the country and globally to fight the pandemic. China is one of the major production hubs for Sputnik V and we are ready for increasing the scope of partnership with local producers to meet the rising demand for the Russian vaccine, which has efficacy of 91.6% and is one of the best solutions against coronavirus in the world”.
Russian Direct Investment Fund (RDIF) s 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 www.rdif.ru
For additional information contact:
Russian Direct Investment Fund
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Andrew Leach / Maria Shiryaevskaya
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