Russian Direct Investment Fund (RDIF) has signed a deal with the Egyptian pharmaceutical firm Minapharm to produce more than 40 million doses of Russia’s Sputnik V Coronavirus vaccine in one year.
Egypt’s Minapharm along with the Russian Direct Investment Fund and its Berlin-based subsidiary issued a joint press release on Thursday. It expects the rollout of the Sputnik V vaccine in the third quarter of 2021.
The two parties agreed to begin technology transfer immediately and production would take place in Minapharm’s biotech facility in Cairo for global distribution.
The CEO, Russian Direct Investment Fund, Kirill Dmitriev says the Russian vaccine is highly efficient and trusted by regulators around the world and makes a huge contribution in the fight against coronavirus.
He admits the vaccine has demonstrated 97.6% efficacy and been approved by drug authorities in 61 countries so far. Russia has been marketing Sputnik V abroad, despite the comparatively slow rollout at home and limited production capacity.
