Glovax eyes vaccine facility
A Filipino pharmaceutical firm plans to build the country’s first vaccine plant to manufacture coronavirus disease 2019 (Covid-19) vaccine, according to a report by Manila Times.
Glovax Biotech has informed the Department of Trade and Industry (DTI) and the Bureau of Investments of its desire to construct a vaccine plant in partnership with South Korea-based Eubiologics and LG Chem to produce EuCorVac-19 vaccine, which was developed by POP Biotechnologies.
The company said it discussed with DTI’s National Development Corp. the “possible investment collaboration” because the vaccine plant was projected to cost P7 billion, including tech transfer costs.
“Glovax will provide the vaccine plant should the government purchase from them 40 million doses, which they already have reserved for the Philippine market as other countries have already approached them for the much-coveted supply of the Covid vaccine,” the company said in a statement.
The company said the vaccine it would produce could be stored in room temperature up to three months unlike other vaccines “which require freezing temperature that our country is not well-equipped.”
The EuCorVac-19 was developed in the United States and has been approved for human clinical trials. South Korea’s Ministry of Food and Drug Safety also approved the conduct of Phase 1 and Phase 2 clinical trials in January this year.
The proposed local vaccine plant will be capable of producing 100 million doses of next generation Covid vaccine annually.
The company is also in the process of applying for Emergency Use Authorization of the vaccines with the Food and Drug Administration.
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