- June 5, 2021
- Posted by: markets.businessinsider.com
- Category: Featured
Leading investors with more than $15 trillion of assets under management participated in the meeting.
RDIF presented 25 pharmaceutical companies that have partnered with the Fund for production of Sputnik V coronavirus vaccine in 14 countries
Presidents of Serbia and Argentina officially launched Sputnik V production at facilities in their countries
SAINT PETERSBURG, June 5, 2021 /PRNewswire/ — Russian President Vladimir Putin and representatives of the investment community took part in the traditional meeting of The Russian Direct Investment Fund’s (RDIF, Russia’s sovereign wealth fund) International Advisory Board (IAB) held at the St. Petersburg International Economic Forum.
More than 30 investors from 17 countries with over $15 trillion of assets under management took part in the Board’s meeting. Participants discussed key issues of international partnership needed to ensure an investment breakthrough in the Russian economy and implementation of high-tech projects in priority areas (healthcare, infrastructure, industrial production, etc.). The coronavirus pandemic, the key topic on the global agenda, was also touched upon during the IAB meeting.
The official start of industrial production of Sputnik V, the world’s first registered vaccine against coronavirus, at facilities in Argentina and Serbia became the highlight event of the meeting with President of Russia Vladimir Putin, President of Argentina Alberto Fernandez and President of Serbia Aleksandar Vučić joining by video conference for the launch. The vaccine will be produced to meet the domestic needs of Argentina and Serbia and will be exported at a later stage.
RDIF has established a wide network of international partnerships for the production of the Sputnik V vaccine. For the first time, the IAB meeting was attended by representatives of 25 pharmaceutical companies from 14 countries where Sputnik V is already being produced or the production is being set up:
- Hetero, Virchow Group, Panacea Biotec, Stelis Biopharma, Gland Pharma, Wockhardt (India);
- Hualan Biological Bacterin, TopRidge Pharma, GeneSail Biotech, Shenzhen Yuanxing Gene-Tech (China);
- GL Rapha, ISU ABXIS (South Korea);
- Laboratorios Richmond (Argentina)
- União Química (Brazil);
- R-Pharm Germany Gmbh (Germany);
- ADIENNE Pharma & Biotech, Avara Liscate Pharmaceutical Services S.P.A. (Italy);
- Torlak Institute (Serbia);
- Arabio (Saudi Arabia);
- Cinnagen Ilaç (Turkey);
- Cinnagen Group, Actoverco (Iran);
- Belmedpreparaty (Belarus);
- Karaganda Pharmaceutical Complex (Kazakhstan).
The Russian vaccine has already been registered in 66 countries with a total population of over 3.2 billion people. Sputnik V has been approved for use by countries in virtually every part of the world, including Europe, North and South America, Africa and Asia. The agreements of the Fund with its partners will ensure the total production of Sputnik V sufficient to vaccinate more than 800 million people a year.
Russian Direct Investment Fund (RDIF) is Russia’s sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 90 projects with foreign partners totaling more than RUB2 tn. RDIF portfolio companies employ more than 1 million people and generate revenues equivalent to more than 6% of Russia’s GDP. RDIF has established joint strategic partnerships with leading international co-investors from more than 18 countries that total more than $40 bn. Further information can be found at www.rdif.ru
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