RDIF and Pharco sign supply pact for 25 mn doses of Sputnik V vaccine to Egypt

The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and Pharco, a pharma company in Egypt have agreed to secure the supply of 25 million doses of the Sputnik V vaccine to Egypt. The vaccine is expected to support the efforts of the Ministry of Health of Egypt to secure a vaccine against COVID-19.

The agreement will enable 25 per cent of Egypt’s population to have access to the Sputnik V vaccine. In the future, it is planned to distribute it to neighbouring countries.

Egypt will secure a diversified vaccine portfolio which includes a vaccine based on the human adenoviral vectors platform.

More than 50 countries in the Middle East, Asia, Latin America, Europe and CIS have applied for Sputnik V. RDIF has already announced supply agreements with Mexico for 32 million doses, with Brazil for up to 50 million doses, India – 100 million doses, Uzbekistan – for up to 35 million doses and Nepal for 25 million doses.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said, “The agreement between RDIF and Pharco will help Egypt obtain an efficient and safe vaccine, Sputnik V, for almost 25 per cent of its population. The adenoviral vectors platform has a longer safety track record compared to novel technologies such as monkey adenoviral vectors or mRNA used by other vaccine manufacturers. So the people of Egypt will get a proven vaccine created on a platform with no negative long-term effects, including carcinogenicity or risks for fertility in the future. We expect more countries to include Sputnik V in their vaccine portfolios in the coming weeks.”

Dr Sherine Abbas Helmy, Founder and President of Pharco, said, “We greatly appreciate this agreement to secure supplies of the Russian Sputnik V vaccine with proven safety to Egypt. Besides vaccine supply, we are considering numerous further cooperation opportunities jointly with RDIF, including the localisation of production in Egypt at the facilities of Biogeneric Pharma within the next few months for the benefit of both countries.”