Russia’s Sputnik V Vaccine Destined For EU Markets
The Russian Direct Investment Fund has applied for authorization of Russia’s Sputnik V coronavirus vaccine in the European Union, the state-run RIA Novosti news agency reported yesterday. The European Medicines Agency (EMA) has concluded a scientific opinion procedure for the vaccine developers on January 19 this year and is due to begin the formal approval process in February.
To date the vaccine has been extensively used in Russia, while according to the Russian Direct Investment Fund, who financed the product, Russia received orders for more than 1.2 billion doses of the vaccine in the first week of December.
Over 50 countries have made requests for doses, with supplies for the global market being produced by partners in India, China, Brazil, South Korea and the EU’s member Hungary. Russian authorities also proceeded with an application for regulatory approval of the vaccine for widespread use in 20 countries.
While free in Russia, the cost per dose would be less than U$10 (or less than U$20 for the two doses needed to vaccinate one person) on international markets, which makes it much more affordable compared to mRNA vaccines produced elsewhere and especially in the West, where the Pharmaceutical industry is highly profitable.
Over 1 billion doses of the vaccine are expected to be produced in 2021 outside of Russia.
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Russia Briefing is written by Dezan Shira & Associates. The firm has 28 offices throughout Eurasia, including China, Russia, India, and the ASEAN nations, assisting foreign investors into the Eurasian region. Please contact Maria Kotova at email@example.com for Russian investment advisory or assistance with market intelligence, legal, tax and compliance issues throughout Asia.