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Sinovac Gets Investment to Double Covid Vaccine Capacity

The Chinese pharmaceutical company raised over half a billion dollars to ramp up manufacturing.

According to a recent FiercePharma article, Sinovac Biotech has attracted a significant investment to increase manufacturing capacity for their Covid-19 vaccine. Sino Biopharmaceutical will pay $515 million for a 15.03% stake in Sinovac Life Sciences, a subsidiary of the vaccine specialist. The money will go directly to the development, manufacturing, and production capacity of their vaccine, CoronaVac.

As it stands, Sinovac is slated to produce 300 million doses of CoronaVac a year, but with the investment, the company aims to increase its capacity to 600 million doses by the end of the year. CoronaVac has already been in use in a secretive emergency use program, and is currently undergoing phase 3 trials in Brazil, Chile, Turkey and Indonesia.

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