JW Biotech Acquires Sales Rights for CoviHill Vaccine... "Fully Prepared for Global Distribution"

[Asia Economy Reporter Jang Hyowon] KOSDAQ-listed company GW Biotech has secured the global distribution rights for the Korean vaccine CoviHeal.

Biotechnology specialist GW Biotech (CEO Yang Jaewon) announced on the 19th that it has signed a "CoviHeal Vaccine Sales Rights Agreement" with Pharma Biotech Global (hereafter ‘PBTG’), a Korea-Russia joint venture holding exclusive worldwide rights to CoviHeal.

This contract was signed amid the full-scale technology transfer from the Chumakov Institute and is known to have been pursued to effectively prepare for global sales following production. GW Biotech had already signed a supply contract worth approximately 7.5 billion KRW in July with PBTG for CoviHeal raw materials and supplies, actively participating not only in technology transfer but also in the production process.

Industry insiders are paying attention, noting that GW Biotech, which has handled global bio and science makers for over 20 years, is making thorough preparations for CoviHeal’s worldwide distribution by recruiting numerous global vaccine distribution experts.

A GW Biotech official stated, “Through this contract, we have secured sales rights to distribute the CoviHeal vaccine worldwide,” adding, “As the technology transfer between the two countries is progressing smoothly at the Andong vaccine production facility, we will also make every effort to prepare for global distribution.”

CoviHeal is an inactivated vaccine, known as a killed vaccine, which generates antibodies and then kills the virus. It has already been proven safe enough to be widely used in vaccines such as the polio vaccine.

A vaccine industry expert said, “In developing countries and African nations, infections from variant viruses are sharply increasing, boosting demand for booster shots. However, due to the lack of cold chain (minus 70 degrees Celsius) distribution systems, many vaccines are being discarded in large quantities. Therefore, demand for killed vaccines that can be distributed at room temperature as booster shots is rapidly rising,” adding, “Since CoviHeal, which offers safety and convenience, is planned for full export overseas, it is expected to expand new demand.”

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