The Russian Direct Investment Fund (RDIF, Russia's sovereign wealth fund), and Turkey's Viscoran İlaç pharmaceutical company have agreed to cooperate on production of the world's first registered vaccine against coronavirus Sputnik V in the country.
To date Viscoran İlaç has carried out necessary studies for localization of the product and aims to launch the production in the country in the upcoming months at several facilities.
As part of the agreement with RDIF Viscoran İlaç provides assistance in establishing partnerships with other leading local pharmaceutical producers. Technology transfer is currently being finalized with CinnaGen İlaç company, while negotiations with two other production facilities are in process in order to increase the overall capacity.
Sputnik V has been registered in 61 countries globally covering a total population of over 3 billion people. Sputnik V vaccine demonstrated efficacy of 97.6%, based on the analysis of data on the infection rate of coronavirus among those in Russia vaccinated with both components of the vaccine from December 5, 2020 to March 31, 2021.
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:
"Agreement with Viscoran İlaç provides for increasing our production capabilities and facilitating supplies of Sputnik V globally. We have reached agreements with the leading pharmaceutical producers in a number of countries of Asia, Latin America, Europe and CIS and thanks to these partnerships the safe and effective Russian vaccine will be available for people in more than 60 countries."
Öztürk Oran, the Chairman of Viscoran İlaç Board of Directors, said:
"In addition to production agreements, licensing processes as well as storage and distribution matters, the execution of some clinical studies on the product is also part of our cooperation with Russia for the Sputnik V vaccine. Our studies on this matter continue very successfully as well. We are very pleased to have contributed to such a valuable product that is discussed in the international arena".
Sputnik V has a number of key advantages:
· Efficacy of Sputnik V is 97.6% based on the analysis of data on the coronavirus infection rate among those in Russia vaccinated with both components of Sputnik V from December 5, 2020 to March 31, 2021;
· The Sputnik V vaccine is based on a proven and well-studied platform of human adenoviral vectors, which cause the common cold and have been around for thousands of years.
· Sputnik V 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.
· The safety, efficacy and lack of negative long-term effects of adenoviral vaccines have been proven by more than 250 clinical studies over two decades.
· There are no strong allergies caused by Sputnik V.
· The storage temperature of Sputnik V at +2+8 C means it can be stored in a conventional refrigerator without any need to invest in additional cold-chain infrastructure.
· The price of Sputnik V is less than $10 per shot, making it affordable around the world.
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Russian Direct Investment Fund (RDIF) is 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 RUB2 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
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