Agency
TAIPEI: 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 USD 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 per cent stake in Sinovac for an investment of USD 500 million.