Saudi's SPIMACO to distribute German COVID-19 vaccine in kingdom

An MoU has been signed with CureVac, with the possibility of extension to the UAE, Kuwait, Bahrain and Oman

  
A vaccination against the coronavirus disease (COVID-19) from German biotechnology company CureVac is ready to use at the start of a clinical test series in the tropical institute of the university clinic in Tuebingen, Germany, June 22, 2020. Image used for illustrative purpose.

A vaccination against the coronavirus disease (COVID-19) from German biotechnology company CureVac is ready to use at the start of a clinical test series in the tropical institute of the university clinic in Tuebingen, Germany, June 22, 2020. Image used for illustrative purpose.

REUTERS/Kai Pfaffenbach

A Saudi-based pharmaceutical company has signed an MOU with German company CureVac to register, supply and distribute a COVID-19 vaccine in the kingdom.

In a statement today to Tadawul, the Saudi Stock Exchange, Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO ADDWAEIH) said it had signed the MOU with CureVac to provide a vaccine against the emerging COVID-19 virus in the Kingdom of Saudi Arabia.

There have been promising results in a clinical trials of the CureVac vaccine, with plans to make a rolling submission to the European Medical Agency (EMA) in the first quarter of 2021, SPIMACO said.

“The MOU stipulates that SPIMACO ADDWAEIH will apply for the necessary approvals from the Ministry of Health and the Food and Drug Authority for all regulatory requirements related to the registration, supply and distribution of the vaccine, and then may agree on the final agreement on the commercial terms,” the company said in its Tadawul statement.

“The MOU includes the possibility of extending the supply and distribution rights later, to include the United Arab Emirates, Kuwait, Bahrain and Oman.”

SPIMACO, which is based in Riyadh, said it was worth noting that the vaccine could be routinely stored at 2-8C.

This gives it the advantage over others currently in development, such as the front runner Pfizer, which must be stored at -70C in order to prevent fragile components breaking down, presenting huge logistical challenges.

The statement concluded: “(CureVac) has conducted a successful Phase 1 dose finding clinical trials and with very promising results is proceeding to a phase llb/lll clinical trial, aiming to start rolling submission to the European Medicines Agency (EMA) during the first quarter of 2021 according to the plan set by the company.”

(Reporting by Imogen Lillywhite; editing by Seban Scaria)

imogen.lillywhite@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2020

More From Health