Huons Global "Suspends Contract Manufacturing of Sputnik V... Considering International Situation"

[Asia Economy Reporter Lee Gwan-joo] Huons Global announced on the 10th that it has decided to suspend the contract manufacturing organization (CMO) of the Russian COVID-19 vaccine Sputnik V.

This decision was directly influenced by international sanctions resulting from Russia's invasion of Ukraine. As the Russian government has included South Korea on its list of unfriendly countries, various sanctions are expected to be imposed.

The company explained, "Concerns were raised about the continuity of business, including exports and payment settlements, due to international sanctions. Considering the unstable international situation, we judged that maintaining the contract's validity was impossible. After careful consideration, we inevitably decided to suspend the business."

Previously, Huons Global's affiliate, Humedix, invested approximately 10 billion KRW in facility costs to expand the vial line for filling the Sputnik V vaccine. The vial line is currently operational, and the company plans to repurpose the facility for other pharmaceutical products (such as injectables), including vaccines, in the future.

The company stated, "We humbly express our apologies to everyone who showed great interest, encouragement, and support for this consortium," and added, "We ask for your understanding and patience, as this was a difficult decision made after thoroughly reviewing the possibility of maintaining the contract's validity, business continuity, and international trends."

This content was produced with the assistance of AI translation services.