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Sinovac Biotech to Build a Vaccine Production Plant in Chile for Latin America

The biotech company Sinovac announced that it plans to build a vaccine manufacturing facility in Chile. Minister of Health, Enrique Paris, also detailed that the vaccines produced in the new facilities could be exported to the rest of Latin America to help fight the current health emergency to those nations that have had difficulties in acquiring the drugs.



Sinovac Biotech announced Wednesday, August 4th, that it will build a CoronaVac COVID-19 vaccine manufacturing plant in the Metropolitan Region of Santiago, Chile, reports the South China Morning Post.

The news was announced by the Chinese pharmaceutical company’s vice-president, Weining Meng. The executive indicated that, after two weeks in the South American country and after the meetings and working visits carried out, it was decided to carry out the project, which has the support of the Catholic University and Invest Chile.

For this, the firm plans to invest $60 million, and the facility is expected to be ready by the first quarter of 2022. The plant will have a capacity to produce 50 million vaccines per year, both against the new coronavirus and against other diseases such as hepatitis and influenza.

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Sinovac Biotech also plans to set up a research and development (R&D) center in the northern region of Antofagasta

Chile has been the Latin American nation that has used the Chinese pharmaceutical company’s vaccine the most during the COVID-19 pandemic. The Andean country has already fully immunized more than 60% of its population.

“Today is, for us, a very happy day, a very important day, because Chile announced the return to the national production of vaccines,” explained the Minister of Health, Enrique Paris, indicating that the country stopped doing so two decades ago after the closure of the laboratory at the Institute of Public Health.

He also detailed that the vaccines produced in the new facilities could be exported to the rest of Latin America to help fight the current health emergency to those nations that have had difficulties in acquiring the drugs. “There is a very important concept of solidarity, of international friendship at the Latin American level of collaborating with our brothers,” the official assured.

“Chile has been chosen the best country in Latin America in the fight against the pandemic,” Paris continued. “I believe that the trust that Sinovac has placed in our country and the possibility of installing a plant here in Chile, in Santiago and also in Antofagasta for R&D, also gives a sign of support to the country and recognizes the contribution of the regions,” he concluded.


(Featured image by HakanGERMAN via Pixabay)

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Michael Jermaine Cards is a business executive and a financial journalist, with a focus on IT, innovation and transportation, as well as crypto and AI. He writes about robotics, automation, deep learning, multimodal transit, among others. He updates his readers on the latest market developments, tech and CBD stocks, and even the commodities industry. He does management consulting parallel to his writing, and has been based in Singapore for the past 15 years.

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