[Asia Economy Reporter Hyunseok Yoo] Ginaine Pharm announced on the 24th that it has signed an agreement with China National Pharmaceutical Group (Sinopharm) subsidiary China National Biotec Group (CNBG) for the research and development, production, registration, and commercialization of the COVID-19 vaccine.
With this agreement, Ginaine Pharm secured exclusive rights for domestic production and domestic and international sales of the Sinopharm COVID-19 vaccine. Ginaine Pharm and CNBG will jointly promote the research and development, production, registration, sales, and commercialization of the COVID-19 vaccine. CNBG will transfer technology including intellectual property rights, patents, know-how, and materials necessary for vaccine production, while Ginaine Pharm will be responsible for domestic vaccine registration, emergency use authorization, and sales both domestically and internationally.
To this end, they plan to sign a Registration and Commercialization Agreement (RCA) and a Contract Manufacturing Agreement (CMA) in July and commence full-scale production.
A company official explained, “Most COVID vaccines currently produced domestically are simple vial filling productions, but Ginaine Pharm has received domestic exclusive production rights by acquiring Sinopharm vaccine research and development technology, and has secured sales rights both domestically and overseas. We expect that the COVID-19 vaccine partnership between Ginaine Pharm and Sinopharm will contribute to Korea’s leap as a global vaccine hub, not only in Asia but worldwide.”
The Sinopharm vaccine received emergency use approval in May after the World Health Organization (WHO) confirmed its 78% antibody formation efficacy, safety, and quality. It is the sixth vaccine worldwide to receive emergency approval and the first non-Western vaccine to do so. The Sinopharm vaccine is an inactivated vaccine that induces an immune response by injecting a virus that has been inactivated by heat or chemical methods into the body.
Ginaine Pharm has already formed the ‘Ginaine Consortium’ with leading domestic pharmaceutical companies to produce the Sinopharm vaccine. Discussions for Sinopharm vaccine production have been completed with multiple domestic pharmaceutical companies including Ilyang Pharmaceutical, Korea Vaccine, and Korea Union Pharmaceutical. Ginaine Pharm plans to expand supply both domestically and internationally alongside production. The company states that production facilities and equipment capable of handling large-scale production volumes are ready, enabling rapid commencement of production.
A company official said, “In May, the Chinese Embassy directly visited Ilyang Pharmaceutical’s Eumseong plant to inspect the vaccine production facilities. As Sinopharm is a Chinese state-owned pharmaceutical company, we have prepared according to strict standards and conditions to acquire Korean production rights for the Sinopharm vaccine. Now that all preparations are complete, we plan to accelerate production and overseas supply, and start overseas sales through the global network held by Ilyang Pharmaceutical.”
Furthermore, Ginaine Pharm plans to conduct joint research and development with CNBG on vaccines for COVID-19 variants. Ginaine Pharm recently recruited vaccine experts including those from Janssen and other bio experts. They have established a joint R&D system with Ajou University Graduate School of Clinical Pharmacy.
A company official stated, “Although COVID vaccine vaccinations are expanding, many countries and regions are still waiting for vaccination, and due to the emergence of variant viruses, vaccine supply shortages are expected to be prolonged. Concerns about the post-pandemic N-demic era are emerging, increasing the need for vaccines. Therefore, Ginaine Pharm plans to strengthen its global vaccine business capabilities.”
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