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Pfizer Rebuffs Report On COVID-19 Vaccine Production In South Korea With Samsung BioLogics: Reuters

Pfizer Rebuffs Report On COVID-19 Vaccine Production In South Korea With Samsung BioLogics: Reuters
  • According to ReutersSamsung BioLogics Co Ltd and Pfizer Inc (NYSE: PFE) have denied reports claiming they were working together to produce the COVID-19 vaccine developed in partnership with BioNTech SE (NASDAQ: BNTX) in South Korea.
  • The Korea Economic Daily reported earlier that the biotech arm of Samsung Group had been revamping production lines at its plant in Songdo to produce the Pfizer/BioNTech vaccine.
  • The report quoted an unnamed high-level government official and said that the plant could make up to 1 billion doses per year, with production starting from August.
  • Samsung BioLogics said in a one-line filing to the stock exchange that the report was "not factual."
  • Pfizer said its current production strategy was centered on its two dedicated supply lines in the U.S. and Europe.
  • "At this time, we are not in discussions for any additional manufacturing outside these established supply lines for this vaccine," Pfizer said in a statement.
  • South Korea has secured 192 million doses, enough to vaccinate all 52 million residents twice over.
  • But President Moon Jae-in is under pressure to secure more and faster deliveries of U.S.-made shots as he heads for his first summit with U.S. President Joe Biden next week. 
  • Price Action: PFE shares are up 0.23% at $39.44 during the premarket session on the last check Wednesday.

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