MYEG Buy 10 Million Chinese Vaccines! - - Financial Market Media No. 1 in the World MYEG Buy 10 Million Chinese Vaccines! MYEG Buy 10 Million Chinese Vaccines!

June 28, 2021

MYEG Buy 10 Million Chinese Vaccines!

 MY EG Services Bhd (MYEG) signed a letter of intent (LoI) involving the purchase of 10 million doses of COVID-19 vaccine produced by Chinese firm, Anhui Zhifei Biopharmaceutical Co Ltd.

This is to ensure that further quantities of recombinant protein or recombinant subunit vaccines are available for delivery as early as this August.

In a statement to Bursa Malaysia last Friday, MYEG said the company was the exclusive right to distribute the vaccine for three years in Malaysia, while through a separate collaboration it covered the exclusive distribution rights for two years in the Philippines.

Bernama reported that the company is also in the process of discussions for similar joint ventures in other countries.

"Last week, MYEG announced plans to launch a vaccine program in the Philippines that will cover the supply of vaccines for the public health segment as well as sales for the private sector," he explained.

The letter of intent is to ensure that the quantity of the vaccine can be sent as early as August when vaccination efforts through the private market are allowed.

"This allows the vaccine to be imported and offered to the Malaysian market when opened for the private market and this is subject to the conditional approval of the National Pharmaceutical Regulatory Division (NPRA)," said the company.

The cost of the vaccine will be determined later based on conditional approval by the NPRA.

MYEG is also confident that when offered locally, the vaccine will also help boost the country's efforts to achieve group immunity to combat the COVID-19 virus.

The vaccine, jointly developed by Zhifei and the Microbiology Institute of the Chinese Academy of Sciences, has also been among the options in the country since gaining emergency use rights in early March due to its advantages as a recombinant protein subunit vaccine.

More than 60 million doses have been given in at least 12 provincial-level areas, including Beijing as well as being used in other countries such as Uzbekistan.

Recombinant protein technology has been shown to be effective and used for the development of vaccines such as Hepatitis B as well as shingles.

In addition, the production of the vaccine on a large scale is also easier, does not require the use of laboratories characterized by higher -grade bio -safety aspects, more cost -efficient as well as easy storage and delivery.

Since the outbreak of COVID-19, MYEG has leveraged on its strength and expertise as a leading digital service provider in the region by introducing a number of initiatives that are among the comprehensive approaches to help curb the pandemic.

In addition to vaccines, the effort includes screening services, quarantine management and a digital health travel pass system.