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UCrest inks agreement with Chinese contract manufacturers to produce Sputnik V vaccines
TheEdge Wed, May 19, 2021 09:04pm - 12 hours ago
KUALA LUMPUR (May 19): UCrest Bhd said today it has inked an agreement with two contract manufacturers in China and secured the capacity to produce Sputnik V vaccines.
The agreement is a follow-up to a Memorandum of Understanding (MoU) inked between UCrest and the Russian Direct Investment Fund (RDIF) in April, wherein it was agreed that UCrest will identify and manage contract manufacturers for the production of the Sputnik V vaccine for RDIF.
The agreement with the two Chinese contract manufacturers results in UCrest having secured the capacity to produce between 312 million and 960 million doses in a 24-month period, said the company, which is primarily involved in wireless and digital network products and services.
Under the MoU with RDIF, UCrest is tasked to manage the contract manufacturers including the sourcing of materials, coordinating work among manufacturers, getting the necessary approvals to achieve the production, and delivery of needed doses.
RDIF, which is a Russian sovereign wealth fund, will be responsible for technology transfer and total purchase of the product in a take-or-pay arrangement.
Elsewhere, the vaccine has been rolled out in India since last week while the Philippines has received the first batch of the vaccine, according to reports.
UCrest shares fell 4 sen or 10.81% to close at 33 sen, valuing the group at RM202.49 million.
@darren chia..I think just your personal opinion only, but some of people has been some disppointed..just for this morning rebound, but until afternoon turned back again..is very unstable and unpredict stock!
Market went down immediately after the Covid cases announced. Tomorrow government will discuss about possibility to implement full lockdown. Not only UCrest, whole market drop on evening.
malaysia dont buy nvm... whole asia still got so many buyer.. USA now hogging their vaccine stock wait the whole world no stock they sell high price, Sputnik great alternative for ASIA
Huh...US already more than 80% vaccinated...thts why they got extra to help other countries...Malaysia also buying mostly from the 3 approved only...it will be too late by then..China have their own...so who buying Sputnik?
are u sure us is 80%...just watched it on ourworldindata.org it is stated the number of vaccinated with at least one dose is 48.52% in us by 19 may 2021..the fully vaccinated is still 38.2%..please check again your source for the credibility
It is showing the countries tht ordered Sputnik from Russia (total up approx 542.09 mil doses) . Domestic produced by countries total 3.038 bil...largest by South Korea 1.85bil (population 51mil) followed by India 852mil (population 1.4bil) and China 260mil... Population for Russia alone is only 145mil+ so south korea should be the major producer
2doses Sputnik required 3weeks apart..if the above are in doses then number of person should divide 2 from the qty above...even after divide 2 it is more than demand..Ucrest 2contracts manufacturer in China between 300+ to 900+ mil doses but total China domestic manufacture 260mil only...
so marcus is that will be a good news for us, the investors? what do you think...ucrest didnt mentioned the manufacturers name...if mentioned already sure will fly never stop punya...now just slowly climb up
@mohd razif..i cut loss this unless stock, change to buy sendania..reward my lost profit already..Well, let us wait and see how is good next monday this stock..
@razif...see if later got more clearer input or info from them...entire tech stocks mostly up in the afternoon due to US Nasdaq side positive sentiment...good cushioning
@lee just cover back profit, then enough already..don,t greedy..i also very sad, when see this unless stock..beforethen i also very confident this stock. Now, i have been disppointed..
Pharmaniaga is one of the two pharmaceutical companies that have signed an agreement with the MoH for the procurement of Covid-19 vaccine doses. The other company is Duopharma Biotech Bhd, which will be supplying 6.4 million doses of Russian-developed "Sputnik V" Covid-19 vaccine.