UCrest Bhd signs MoU to manage production of Russia’s Sputnik V Covid-19 vaccine

A medical specialist holds a vial of Sputnik V vaccine against the coronavirus in a department store in Moscow January 18, 2021.— Reuters pic
A medical specialist holds a vial of Sputnik V vaccine against the coronavirus in a department store in Moscow January 18, 2021.— Reuters pic

Subscribe to our Telegram channel for the latest updates on news you need to know.


KUALA LUMPUR, April 9 — UCrest Bhd plans to supervise the contract manufacture of Russia’s Sputnik V vaccine in Asia following the signing of a memorandum of understanding (MoU) with sovereign wealth fund Russian Direct Investment Fund (RDIF).

Under the MoU, it would identify, qualify and manage the contract manufacturers to produce the Covid-19 vaccine for RDIF, the cloud hospital and mobile health service provider said.

RDIF is responsible for the commercialisation of Sputnik V developed by Gamaleya National Research Institute of Epidemiology and Microbiology.

In a filing with Bursa Malaysia today, UCrest said it would be responsible for identifying, arranging and supervising contract manufacturing in Asia of Sputnik V vaccine at various suitable manufacturing facilities.

Meanwhile, RDIF would be responsible for technology transfer and purchase/offtake of 100 per cent of such production.

“RDIF shall purchase from UCrest and is committed to take or pay of the vaccines produced,” it said.

UCrest added that the MoU was expected to contribute positively towards its future earnings and net assets per share. — Bernama

Related Articles