UCrest inks master service agreement with Russian pharma firm to manufacture Sputnik V vaccines

UCrest inks master service agreement with Russian pharma firm to manufacture Sputnik V vaccines

06 Sep 2021

UCrest Bhd’s unit, UCrest Technology Ltd, has signed the master service agreement with Human Vaccine, a direct subsidiary of Russian Direct Investment Fund (RDIF), to identify, arrange and engage contract manufacturers to produce Sputnik V vaccines for RDIF.

In a statement today, the company said this agreement was sealed following the memorandum of understanding signed between their parent companies in April 2021.

Chairman and chief executive officer Eg Kah Yee said UCrest continues to receive inquiries from various countries on acquiring vaccines as the demand remains strong and supply remains short.

“We will continue to facilitate the acquisition of the vaccines for the countries and the supplier,” he said.

Previously, UCrest had announced an agreement with three contract manufacturers in China to produce vaccines.

UCrest’s definitive agreement for all three contract manufacturing partners had been qualified and approved for technology transfer and production of the vaccines by RDIF/Human Vaccine.

The three contract manufacturers have committed to producing over 100 million doses of vaccines per year.

The agreement was signed for one-year renewable for another year due to the dynamic changes of the pandemic.

To date, a total of 70 countries have approved the use of Sputnik V for Covid-19.

Based on the observation, the approval and acquisition of vaccines of a country seem to be geopolitically influenced, and as such, the demand for Sputnik V remains strong.

Data showed that vaccination had reduced the death rate significantly though the infection remains high with the Delta variant.

The rate of admission to ICU has also dropped, indicating that vaccination is effective.

With countries beginning to adopt the strategy to co-exist with the virus, vaccination is likely a regular event.

Therefore, the demand for vaccination is likely to continue in the foreseeable future until there is a therapeutic solution.

Source: NST