Karachi: It has now been confirmed that AGP Pharma Pakistan is behind the import, supply, and distribution of the Russian COVID-19 vaccine in Pakistan, and it received government’s nod of approval on Friday night, industry sources have said.
“AGP Pharma Pakistan (AGP) is up by 7.5 % today,” said analyst Mohammad Sohail, as reports emerge that Pakistani health authorities have granted emergency use authorization to Russian COVID-19 vaccine. AGP Pharma had applied for registration, marketing and distribution of the vaccine in Pakistan.
According to the Pakistan Stock Exchange (PSX) screen, the AGP share value opened at Rs 125.16 in the morning, compared to its previous close of Rs 116.38.
Another market analyst said that now it is confirmed that AGP is behind the deal to import the Coronavirus vaccine Sputnik-V, which is a Russian COVID-19 vaccine to be used in Pakistan under “emergency situations.”
The company will import 4 million to 5 million medicines this week from Russia for emergency use, he added.
The proponents of the Russian vaccine claim that the vaccine is 100% effective and a perfect cure for COVID-19. This vaccine has already been in use in India and is nowadays being widely imported because of being cost effective, as compared to the Oxford vaccine, a single dose is which is predicted to cost around $6.
A committee of experts evaluated the result of clinical trials’ data for registration and accreditation of COVID-19 vaccines in its meeting of January 21, 2020, and enunciated the prayers for the emergency use and due authorization for usage of Sputnik-V in consideration thereof.
This snap decision and authorisation will be followed by the first arrival of shipment of the vaccine within three to four days’ time, or during the week starting from Jan 25, 2021.
This vaccine is developed by M/s Gamaleya National Center of Epidemiology and Microbiology. The funding support for initiative has been provided by Russian Direct Investment Fund, which is a sovereign fund of the Russian Federation. Drug Regulatory Authority of Pakistan (DRAP)’s approval of the Russian vaccine has placed Pakistan in the club of eleven countries, including Hungary, Russia, Argentina, EU, and United Arab Emirates (UAE), where a wide and extensive usage of this vaccine is anticipated.
All parameters of the vaccine, including its efficacy, immunogenicity, and safety are said to have been found to be within acceptable ranges for all walks of like, include senior citizens. Given its efficacy and availability, this vaccine is likely to play a crucial role in protecting the population of Pakistan against COVID-19.
