China’s Sinovac secures $500 million in funding for Covid-19 vaccine development
Shanghai |
Reuters| Posted by Susmita Pakrasi Dec 07, 2020 06:23 AM IST
In a statement on its website, the company said it expects to be able to manufacture 300 million vaccine doses annually, and that it aims to complete construction of a second production facility by the end of 2020 to increase annual Covid-19 vaccine production capacity to 600 million doses.
China’s Sinovac Biotech said on Monday that it had secured approximately $500 million in funding for Covid-19 vaccine development.
In a statement on its website, the company said it expects to be able to manufacture 300 million vaccine doses annually, and that it aims to complete construction of a second production facility by the end of 2020 to increase annual Covid-19 vaccine production capacity to 600 million doses.
Hindustan Times - your fastest source for breaking news! Read now.
Sinovac said the investor is Sino Biopharmaceutical Ltd.
Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away! - Login Now! Get Latest World News along with Latest News from India at Hindustan Times.
Share this article