Manila Bulletin
MVP eyes stake in vaccine project, says Glovax CEO
Glovax Biotech Corp. announced a partnership with businessman Manuel V. Pangilinan to establish a COVID-19 vaccine manufacturing plant in the Philippines.
The partnership with Pangilinan is primarily financial, with the tycoon expected to provide investments for the plant's construction.
Glovax aims to manufacture the EuCorVac-19 vaccine locally once it obtains emergency use authorization after successful clinical trials in collaboration with South Korea's EuBiologics Co.
The P7.5 billion vaccine plant is slated to begin construction by October, with an anticipated annual production capacity of 100 million doses.
Pangilinan instructed Glovax not to look for other investors, indicating his serious commitment to the project.
He conveyed his full support for the Glovax vaccine plant as a contribution to Filipinos, the government, and President Duterte's fight against COVID-19.
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News Sources
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President Rodrigo Duterte has approved the Department of Trade and Industry's (DTI) request to provide assistance to potential local vaccine manufacturers in the Philippines.
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