Categories: Market Overview

Russia plans to produce 1 billion doses of its ‘cheaper’ Covid vaccine

Hot on the heels of promising coronavirus vaccine news from the U.K. and U.S., Russia said Tuesday it will make its shot cheaper than its rivals and aims to produce 1 billion doses next year. “The cost of one dose of the Sputnik V vaccine for international markets will be less than $10,” Russia’s sovereign wealth fund RDIF said. Russia’s coronavirus vaccine requires two doses.

“Thus, Sputnik V will be two or more times cheaper than foreign vaccines based on mRNA technology with similar efficacy rates. For Russian citizens, vaccination with Sputnik V will be free of charge,” RDIF added.

The statement appears to be referring to vaccine candidates from Pfizer-BioNTech and Moderna, which are made from messenger RNA. In the last couple of weeks the companies reported high efficacy rates of their vaccines in late-stage trials.

The Pfizer-BioNTech vaccine is expected to cost around $20 per dose, while Moderna’s CEO said two days ago that its vaccine will cost $25-$37 per dose, depending on the amount ordered. Both require two doses.

The comments from Russia also come a day after British pharmaceutical AstraZeneca and the University of Oxford said an interim analysis of late-stage clinical trials found their vaccine “highly effective.” Their vaccine uses a viral vector approach rather than mRNA technology.

Russia’s coronavirus vaccine was the first in the world to be registered, promoting international skepticism over its efficacy and safety credentials as it had not published any early stage clinical trial data or begun phase three trials at the time.

It has since shared its first interim analysis of phase three trials, and on Tuesday published the second interim analysis of trial data. It said the results showed the vaccine had a 91.4% efficacy at preventing coronavirus infection after 28 days, and was over 95% effective after 42 days. The trial evaluated the data after there were 39 confirmed coronavirus cases among the 18,794 volunteers who received both doses of the Sputnik V vaccine or a placebo.

RDIF reiterated on Tuesday that its trial results would be published by the country’s Gamaleya Center team “in one of the leading international peer-reviewed medical journals” but did not specify a time frame for that. It added that after the completion of phase three clinical trials, it would provide access to the full clinical trial report.

Russia plans to produce 1 billion doses of its ‘cheaper’ Covid vaccine, CNBC, Nov 24

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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