Malaysia Leading Recipient Of Covid-19 Vaccine From China, Pharmaceutical Stocks Receive Benefits

 Reports that Malaysia will be the main recipient of the Covid-19 vaccine from China are seen as giving good news to pharmaceutical counter stocks and companies that signed the vaccine agreement.

According to The Edge, at 10.19 this morning, Pharmaniaga shares jumped 10 sen to RM5.22; Apex Healthcare rose 3 sen to RM3.43; Bintai Kendei rose slightly by 1 sen to 68.5 sen while Duopharma and Kotra Industries increased 4 sen to RM3.64 and RM3.23 respectively.

Meanwhile, Ho Wah Genting 's subsidiary HWGB Biotech Sdn Bhd which signed a memorandum of understanding (MoU) with the Chinese company, Xinkexian (Beijing) Biotechnology Co, Ltd (XKX) last month also saw its shares increase by 10 sen to 74 sen.

The MoU makes XKX a non-exclusive manufacturer of Covid-19 vaccine production for HWGB.

Yesterday, Foreign Minister Datuk Seri Hishammuddin Tun Hussein and his Chinese counterpart Wang Yi held a bilateral meeting and agreed to make Malaysia the main recipient of the Covid-19 vaccine once it is produced.

According to Yi, the vaccine is being developed and can be distributed to the public early next month.