Pharmaniaga seals agreement with Malaysian govt to supply Sinovac Covid-19 vaccine

Health Minister Datuk Seri Dr Adham Baba (right) and Pharmaniaga group managing director Datuk Zulkarnain Md Eusope at the signing ceremony today. (Photo by Pharmaniaga Bhd)

Health Minister Datuk Seri Dr Adham Baba (right) and Pharmaniaga group managing director Datuk Zulkarnain Md Eusope at the signing ceremony today. (Photo by Pharmaniaga Bhd)

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KUALA LUMPUR (Jan 26): Pharmaniaga Bhd has signed an agreement with the Malaysian government to supply 12 million doses of the Covid-19 vaccine.

Pharmaniaga said in a bourse filing that its wholly-owned subsidiary Pharmaniaga LifeScience Sdn Bhd (PLS) had entered into a term sheet agreement with the government of Malaysia, represented by the Ministry of Health (MoH), for the purchase and distribution of the Covid-19 vaccine.

The vaccine will be developed by Sinovac Life Sciences Co Ltd (Sinovac LS), a subsidiary of Sinovac Biotech Ltd, it said.

It also said the duly executed agreement is to enable PLS to supply 12 million doses of finished Covid-19 CoronaVac, SARS-CoV-2 Vaccine (Vero Cell), Inactivated (developed by Sinovac LS), and filled and finished by PLS to be delivered to hospitals, clinics and any other facilities nationwide as instructed by the MoH.

"The supply of the finished Covid-19 vaccine is subject to getting registered with Drug Control Authority and meeting all regulatory requirements.

"PLS has submitted its application for registration with NPRA on Jan 19, 2021. Subject to approval by the NPRA, the finished Covid-19 vaccine is expected to be delivered to MoH by April 2021," it said.

“The agreement and collaboration contemplated therein will serve as a platform for Pharmaniaga to further strengthen its vaccine business and grow the sector in Malaysia.

“It will also provide Pharmaniaga another income stream, which will contribute to the profitability of the company in the future,” it said.

Pharmaniaga closed 10 sen or 2.05% higher at RM4.98 today, valuing the company at RM1.3 billion.

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Lam Jian Wyn