The Chinese company acquired the rights to production of the vaccine "Sputnik of V"

Tibet Rhodiola Pharmaceutical Holding acquired the rights to sale and testing Russian vaccines against a coronavirus COVID-19 "Satellite V". The Chinese company announced it on November 11, 2020.

The relevant agreement with the Russian side on behalf of Human Vaccine company was signed with "subsidiary" of Tibet Rhodiola Pharmaceutical — TopRidge Pharma Limited. The agreement provides the rights to registration, development, production, import and commercialization of vaccine in the territory of continental China, the special administrative Regions of Hong Kong (Hong Kong) and Aomin (Macau) and also on the island of Taiwan.

The Chinese company Tibet Rhodiola Pharmaceutical Holding acquired the rights to production of the vaccine "Sputnik of V"

It is noted that before vaccine goes on sale in the specified areas, it, according to the requirement of the legislation of the People's Republic of China, should pass preclinical researches and three phases of clinical trials in China.

TopRidge Pharma Limited, under the terms of the agreement, should pay to the Russian partner by installments in the amount of $9 million for receiving the appropriate licensing rights. In the document it is also told about technology transfer on development and production of vaccine — the Chinese company intends to charge it to the third party.

As notes Reuters, by November, 2020 in China five vaccines from COVID-19 which are at a final stage of clinical trials are developed. At the same time the local companies also cooperate with foreign pharmproizvoditel for testing and supply of vaccines in the country.

The transaction on "Sputnik of V" assumes that "daughter" Tibet Rhodiola will deliver to the Russian partner the amount of vaccines, sufficient for introduction of inoculations not less than 20 million people in 2021. Tibet Rhodiola intends to transfer the first development stages and productions of vaccine to outsourcing and also to start production lines at the enterprise.^[1]

Notes