Binnopharm Group, RDIF and Mumtalakat agree to build Sputnik V vaccine plant in Bahrain

2021: Construction plan for Satellite V vaccine plant in Bahrain

On June 3, 2021 AFK "Sistema" , it announced that pharmaceutical the holding company controlled by it, Binnofarm Group(Russian Direct Investment Fund RDIF, sovereign wealth fund) Russian Federation Mumtalakat Holding Company and (Mumtalakat, sovereign wealth fund of the Kingdom) Bahrain signed a memorandum of understanding with the aim of constructions manufacturing enterprises in the Kingdom of Bahrain. " Russian vaccine Satellite V

The Satellite V vaccine was approved in the Kingdom of Bahrain as part of the accelerated registration procedure in February 2021. The vaccine produced at the newly established facility is expected to be delivered to markets in the Middle East and North Africa in the future.

"Last summer , the Binnopharm Group pharmaceutical plant in Zelenograd was the first in Russia to launch the production of a vaccine for the prevention of Sputnik V coronavirus at its facilities. Over the past year, we have worked out the technology before the nuances and understand well how to scale vaccine production. We are pleased to share our achievements  with other countries in order to help them  establish their own large-scale production of Sputnik V, "said Dmitry Zubov, Chairman of the Board of Directors of Binnopharm Group.

"Together with Mumtalakat, we are implementing a joint investment program, cooperation between our organizations is long and fruitful. We are pleased to expand our partnership to establish a company in Bahrain to produce Sputnik V, the world's first registered coronavirus vaccine. Satellite V was included in Bahrain's national vaccine portfolio in February and is successfully used to protect the population from coronavirus. Localization of production will increase our ability to internationally produce the drug and help other countries in the region prevent the spread of coronavirus, "said Kirill Dmitriev, General Director of the Russian Direct Investment Fund (RDIF).

"Our partnership with RDIF and Binnopharm Group will allow the Kingdom of Bahrain to maintain its position in the fight against pandemics and work to further develop the health sector in the region through the creation of this enterprise. As Bahrain's sovereign wealth fund, we continue to search for partnerships and enterprises that will increase the value of our portfolio, as well as offer long-term sustainable solutions for the Kingdom and the region as a whole, "said Khalid Al Rumayhi, CEO of Mumtalakat.