Korean-made Russian COVID Vaccine 'Sputnik V'... Overseas Supply Starting Next Month

[Asia Economy Reporter Park So-yeon] Overseas exports of the Russian COVID-19 vaccine Sputnik V, produced by Korea Corus, will begin at the end of February.

On the 24th (local time), Russian state news agency RIA Novosti reported that according to the export agreement between the Russian sovereign wealth fund RDIF and Korea's GL Rapha, the export of 150 million vaccines produced by Korea Corus will be in full swing starting next month. RIA Novosti, established in 1941, is a Russian state news agency headquartered in Moscow.

The Sputnik V vaccines produced domestically will be supplied to the Middle East region through a UAE (United Arab Emirates) pharmaceutical company.

Kirill Dmitriev, head of the RDIF fund, said, "We have received the first Sputnik V vaccines produced in Korea and continue to communicate with GL Rapha via video conference," adding, "Commercial exports of Sputnik V will begin from late February to early March, and vaccine production for this purpose is underway."

He added, "Currently, cell culture for mass production is being promoted, and in February, Russian experts will visit Korea to monitor the overseas commercial production process," and "The total contracted production volume with Korea's GL Rapha is 150 million doses, which will be supplied to the Middle East region based at Yas Pharmaceuticals, a UAE pharmaceutical company."

A GL Rapha official stated, "As the number of countries approving Sputnik V increases, demand is expected to rise," and "While the main buyers are currently developed countries, developing countries are also expected to become purchasers of Sputnik V," forecasting, "Accordingly, the annual demand for Sputnik could significantly exceed 350 million doses."

Meanwhile, Etron and EID hold a 16.7% stake in Korea Corus.