Despite signing a term sheet to supply 3.5 million doses of a Chinese Covid-19 to the Malaysian government, shares in Solution Group Bhd did not receive the expected boost today. Shares in the engineering and biopharmaceuticals company shed as much as 8.72% or 13 sen this morning. At 10.12am, shares in Solution Group were down 7.38% or 11 sen lower at RM1.38, translating into a market value of RM527.25 million.
“The term sheet agreement is to enable Solbio to enter into a definitive agreement to supply 3.5 million doses of the Recombinant Ad5-nCoV vaccine for the prevention of Covid-19. The vaccine is jointly developed by CanSino Biologics Inc and Beijing Institute of Biotechnology, Academy of Military Medical Sciences, ” the company said in a filing with Bursa Malaysia.
’s unit Solution Biologics Sdn Bhd (Solbio) said it has signed a term sheet agreement with the Health Ministry to supply Covid-19 vaccines to the government.
“The term sheet agreement is to enable Solbio to enter into a definitive agreement to supply 3.5 million doses of the Recombinant Ad5-nCoV vaccine for the prevention of Covid-19. The vaccine is jointly developed by CanSino Biologics Inc and Beijing Institute of Biotechnology, Academy of Military Medical Sciences, ” the company said in a filing with Bursa Malaysia.
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KUALA LUMPUR, Feb 4 (Reuters) - Malaysia’s Solution Group Bhd said on Thursday it has signed a term sheet agreement with the government to supply 3.5 million doses of COVID-19 vaccine jointly developed by China’s CanSino Biologics Inc and Beijing Institute of Biotechnology under the Academy of Military Medical Sciences.
The company, whose website shows it is an engineering as well as biopharmaceuticals business, said in a bourse filing that its wholly-owned unit Solution Biologics had signed the agreement on Jan. 29 with the Health Ministry.
The agreement will enable the subsidiary to enter into a definitive supply agreement to supply 3.5 million doses of the Recombinant Ad5-nCoV vaccine for the prevention of COVID-19, it said.
said wholly-owned subsidiary Solution Biologics Sdn Bhd (SolBio) has signed a term sheet agreement with the Ministry of Health (MoH) for the supply of Covid-19 vaccine. The term sheet agreement, signed on Jan 29, is to enable SolBio to enter into a definitive supply agreement to supply 3.5 million doses of the Recombinant Ad5-nCoV vaccine, the company said in a filing today.
The vaccine, Solution Group said, was jointly developed by CanSino Biologics Inc and Beijing Institute of Biotechnology, Academy of Military Medical Sciences.
Under the agreement, MoH will purchase 3.5 million vials from SolBio subject to several conditions including the company having obtain the product registration and market authorisation of the vaccine in Malaysia from Drug Control Authority (DCA) by April 2021.