Vingroup, Vietnam’s leading private conglomerate, is building a plant to produce Covid-19 vaccines under the technology transfer by the US-based Arcturus Therapeutics Holdings Inc.
| The technology transfer of vaccine production aims to meet the domestic demand in Vietnam. Photo: Phap luat Xa hoi |
The plant run by Vingroup’s Vinbiocare Biotechnology JSC is expected to churn out the first batch of mRNA vaccines in August for clinical trials.
Located in Hoa Lac Hi-Tech Park in Thach That District, Hanoi, the plant is designed to have a capacity of 100-200 million doses per year. it is one of few construction projects allowed to proceed in Hanoi’s 15-day partial lockdown.
Vinbiocare was established in early June 2021 with an investment portfolio mainly in pharmaceuticals. It was set up at a time when Vietnam facing a thin vaccine supply amid widespread pandemic transmission.
Vingroup entered the pharmaceutical industry in 2018 by establishing Vinfa JSC and setting up a plant in the northern province of Bac Ninh.
According to Vingroup’s Chairman Pham Nhat Vuong, Vinbiocare’s investment portfolio covers a wide range with a focus on biotechnological products.
Vuong said vaccine production is a non-profit business that aims to meet domestic demand, noting that Vingroup is willing to take risks in investing in vaccine production for long-term profits because of the global scarcity.
Vingroup has also funded VND20 billion (US$869,000) for the Health Ministry-run Institute of Vaccines and Medical Biologicals (IVAC) to develop Covid-19 vaccine candidates.
The group has also made ventilators under the support of the US-based Medtronic for domestic consumption and export. It has donated more than 3,200 VSmart VFS-410 and VFS-510 ventilators for the Ministry of Health.
