KUALA LUMPUR: Pharmaniaga Bhd has entered into a term sheet agreement with the Government to supply 12 million doses of Covid-19 vaccine developed by China's Sinovac Life Sciences Co Ltd.
The vaccine fill-finish processing by Pharmaniaga into vials is expected to start in February.
"The Agreement and collaboration contemplated therein will serve as a platform for Pharmaniaga to further strengthen its vaccine business and grow the sector in Malaysia," the company said.
"It will also provide Pharmaniaga with another income stream which will contribute to the profitability of the Company in the future," it said in a filing with Bursa Malaysia today.
The company said its unit Pharmaniaga Lifescience Sdn Bhd (PLS) on Jan 26 has entered into a Term Sheet Agreement with the Government, represented by the Ministry of Health of Malaysia (MOH) for the purchase and distribution of Covid-19 vaccine.
The vaccine will be developed by Sinovac Life Sciences Co Ltd, a subsidiary of the Sinovac Biotech Ltd.
"The duly executed Agreement is to enable PLS to supply 12 million doses of finished Covid-19 Coronavac, SARS-COV-2 Vaccine (Vero Cell) Inactivated (developed by Sinovac) and fill and finished in PLS to be delivered to hospitals, clinics and any other facilities nationwide as instructed by the MOH," it said.
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