KUALA LUMPUR (Jan 6): Yong Tai Bhd, which last month proposed the development of a China-based company’s Covid-19 vaccine in Malaysia, today signed up with Tiong Nam Logistics Holdings Bhd to provide distribution services for the vaccine.
Under the deal, Tiong Nam’s subsidiary Tiong Nam Logistics Solutions Sdn Bhd will provide logistics services, which also include transportation and warehouse space storage for the vaccine.
On Dec 4, Yong Tai inked a Heads of Agreement with Shenzhen Kangtai Biological Products Co Ltd (SZKT) for the development and exclusive commercialisation of the latter’s inactivated Covid-19 vaccine in Malaysia. Under the deal, Yong Tai will supply 100 million doses of the vaccine over a five-year period.
LIKE many companies, Yong Tai Bhd has not been spared from the adverse impact of the Covid-19 pandemic, due to its presence in the tourism and property sectors. With no silver lining in sight for the next two years, the company has had no choice but to invest in new business opportunities.
It hopes that its plan to distribute a Covid-19 vaccine announced earlier this month will be its turning point. “Today, we cannot keep pumping money into the property sector. Good money should not be put into a risky business or bad industry anymore. Proceeds from the fundraising should be used in the right industry,” Yong Tai CEO Datuk Wira Boo Kuang Loon tells The Edge in an interview.
Fosun Pharma to buy 100 million doses of BioNTech s COVID-19 vaccine for mainland China
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Last Updated: Dec 16, 2020, 11:46 AM IST
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Fosun said it will be entitled to 60% of annual gross profit from sales of doses that it will make from imported bulk ingredients, and 65% of profit from sales of doses imported ready for use.
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Shanghai Fosun Pharmaceutical Group Co Ltd on Wednesday said it will buy at least 100 million doses of a COVID-19 vaccine from Germany s BioNTech SE for use in mainland China next year, if the vaccine receives approval. The Chinese government has not announced supply deals with Western drugmakers, which instead have partnered local firms.
Fosun Pharma to buy 100 mn doses of BioNTech s Covid-19 vaccine for mainland China
Reuters
December 16 |
Updated on
December 16, 2020
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The vaccine developed by BioNTech and Pfizer has been administered to the public in Britain and the United States, and has received emergency-use approval in several other countries. Shanghai Fosun Pharmaceutical Group Co Ltd on Wednesday said it would buy at least 100 million doses of a Covid-19 vaccine from Germany s BioNTech SE for use in mainland China next year if the vaccine receives approval.
The Chinese government has not announced supply deals with Western drugmakers, which instead have partnered local firms.
Fosun said it would be entitled to 60% of annual gross profit from sales of doses that it will make from imported bulk ingredients, and 65% of the profit from sales of quantities imported ready for use.