Categories: Market Overview

Russia’s Sputnik V could be made in European Union after reported deals

Russia’s Sputnik V vaccine against COVID-19 could be produced in western Europe for the first time after a deal to make it in Italy was signed by the RDIF sovereign wealth fund and Swiss-based pharmaceutical company Adienne. The agreement, which will need approval from Italian regulators before production can be launched, has been confirmed by both Russia’s RDIF, which markets Sputnik V internationally, and the Italian-Russian chamber of commerce.

Kirill Dmitriev, RDIF’s head, told Russian state TV his fund had also struck deals with production facilities in Spain, France and Germany to produce Sputnik. He did not provide details. It is the latest indication that some companies are not willing to wait for the European Union’s (EU’s) regulator — the European Medicines Agency (EMA) — to grant its approval to Sputnik V before pushing ahead with their own plans.

Scientists said the Russian vaccine was almost 92% effective, based on peer-reviewed late-stage trial results published in The Lancet medical journal last month.

Sputnik V has already been approved or is being assessed for approval in three EU member states – Hungary, Slovakia and the Czech Republic. EU officials have said Brussels could start negotiations about a possible agreement to buy vaccines if at least four members request it. European Council President Charles Michel on Tuesday took aim at what he called “highly publicised” supply of vaccines from China and Russia to other countries, calling on EU members not to be misled.

The Italian-Russian chamber of commerce said on Monday that the Italian move paved the way for the creation of the first Sputnik V production facility in Europe outside Russia. It said there were plans for Italian production to begin in June and that it hoped that 10 million doses of Sputnik V could be produced there by the end of the year.

Russia’s Sputnik V could be made in European Union after reported deals, Reuters, Mar 10

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.

Share
Published by
The FxPro News Team

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

2 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies