Local firm plans to establish first COVID-19 vaccine plant
Local pharmaceutical company Glovax Biotech expressed its desire to build the Philippines’ first vaccine plant.
Glovax Biotech is in partnership with South Korea-based Eubiologics and LG Chem to produce the EuCorVac-19 vaccine, which was developed by POP Biotechnologies. Both Korean companies are prequalified vaccine manufacturers by the World Health Organization.
In a statement, the firm said, “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 also said that the “possible investment collaboration” was projected to cost P7 billion, including tech transfer costs.
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