Russian sovereign wealth fund sells millions of Covid-19 vaccines around the world

5 Oct 20

More than 200 million doses of a purported vaccine for Covid-19 have been sold by Russia’s sovereign wealth fund to countries desperate for an end to the health crisis.

 

The Russian Direct Investment Fund, which has invested in production of the vaccine known as Sputnik V, has so far sold millions of doses to governments and pharmaceutical companies in Asia, Europe and Latin America.

RDIF invests mostly in Russian companies to stimulate the economy, and in June created a 4bn ruble (£39.2m) joint venture with pharmaceutical company R-Pharm, hoping to speed up the development and production of the vaccine.

Sputnik V is currently only licensed for use in Russia, with most of the rest of the world waiting for data from the latest round of clinical trials to be released. RDIF expects this to happen in the next month or so.

More than 50 countries have applied for the vaccine, and the RDIF has so far agreed deals selling 100 million doses to India, up to 50 million to Brazil, up to 35 million to Uzbekistan, 32 million to Mexico, and 25 million each to Venezuela and Nepal.

Trials are underway in Venezuela and Belarus, with more planned elsewhere – including in Brazil, India and UAE.

There is no public information about the price of the vaccine.

RDIF was set up in 2011 by the Russian government to invest in mostly domestic companies and stimulate the economy.

Companies in its portfolio generate revenue of more than 6% of the country’s GDP.

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