On Friday, South Korea’s Huon’s Global said it will lead a consortium to produce 100 million doses of Russia’s Sputnik V Covid-19 vaccine per month as Moscow ramps up production for supplies abroad.
The announcement comes after South Korean biotech firm GL Rapha signed a deal with Russia’s sovereign wealth fund late last year to make more than 150 million doses of Sputnik V per year.
Huons said the consortium will begin producing sample batches in August and respond flexibly to supply demands from the Russian Direct Investment Fund (RDIF).
The consortium includes three other local companies — Prestige BioPharma, Humedix and Boran Pharma — which will build a new production facility, Huons said in a statement.
Shares in Huons Global jumped 29.8% to their daily limit on Friday morning trade, versus a flat wider market.