Developers of the Russian COVID-19 vaccine and a leading Egyptian pharmaceutical company signed a deal to manufacture more than 40 million doses a year in Cairo, the two parties said Thursday.
The Russian Direct Investment Fund, along with Egypt’s Minapharm and its Berlin-based subsidiary, issued a joint press release saying the technology transfer will begin immediately. It expected the roll out of the Sputnik V vaccine in the third quarter of 2021.
The production will take place in Minapharm’s biotech facility in Cairo for global distribution, said the statement.
“The Russian vaccine is highly efficient and trusted by regulators around the world and makes a huge contribution in the fight against the coronavirus,” said CEO of the Russian Direct Investment Fund Kirill Dmitriev.
The Russian vaccine has demonstrated efficacy of 97.6% and been approved by drug authorities in 61 countries so far, according to Dmitriev.
