Moscow: The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) announces the UAE Ministry of Health and Prevention (MOHAP) has authorized the use of Russian Sputnik V vaccine in the fight against the coronavirus pandemic.
The vaccine was registered under the emergency use authorization procedure based on the results of the Russian Phase III clinical trials which included over 33,000 subjects. Moreover, local Phase III clinical trials of Sputnik V in the UAE are ongoing under the supervision of the MOHAP and Department of Health (DOH) of Abu Dhabi with 1,000 volunteers already enrolled into the study. Medical protocols are handled by the public health provider, the Abu Dhabi Health Services Company, SEHA.
As a precursor to the emergency authorization procedure, Sputnik V trials were conducted in the UAE and were facilitated through a partnership between RDIF and Abu Dhabi-based Aurugulf Health Investment and Pure Health – the marketing and distribution partner. Since the launch of the trials in December 2020, a total of 1000 volunteers received their first dose of the vaccine, a celebrated milestone which paved the way for registering the vaccine under the emergency use authorization.
Sputnik V had been registered under the same procedure earlier in Algeria, Argentina, Bolivia, Serbia, Palestine, Venezuela, Paraguay and Turkmenistan. The vaccine is also registered in Russia and Belarus.
Supplies of the vaccine to the UAE will be facilitated by RDIF’s international partners in India, China, South Korea and other countries.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:
“The UAE is one of Russia’s key partners in the Middle East. RDIF appreciates the cooperation with health authorities of UAE and welcomes the regulatory approval of Sputnik V. We strive to help people of UAE to get access to a safe and effective Russian vaccine against coronavirus based on a proven and well-researched platform of human adenoviral vectors. The decision to include Sputnik V in UAE’s national vaccine portfolio is an important step towards protecting the population with one of the best vaccines against coronavirus in the world.”
Sputnik V has a number of key advantages:
- Efficacy of Sputnik V is over 90%, with full protection against severe cases of COVID-19.
- The Sputnik V vaccine is based on a proven and well-studied platform of human adenoviral vectors, which cause the common cold and have been around for thousands of years.
- Sputnik V uses two different vectors for the two shots in a course of vaccination, providing immunity with a longer duration than vaccines using the same delivery mechanism for both shots.
- The safety, efficacy and lack of negative long-term effects of adenoviral vaccines have been proven by more than 250 clinical studies over two decades.
- Over 1.5mn people have already been vaccinated with Sputnik V.
- The developers of the Sputnik V vaccine are working collaboratively with AstraZeneca on a joint clinical trial to improve the efficacy of AstraZeneca vaccine.
- The Sputnik V vaccine has been approved in Russia, Belarus, Serbia, Argentina, Bolivia, Algeria, Palestine, Venezuela, Paraguay and Turkmenistan; the process to approve the vaccine in the EU has been initiated.
- There are no strong allergies caused by Sputnik V.
- The storage temperature of Sputnik V at +2+8 C means it can be stored in a conventional refrigerator without any need to invest in additional cold-chain infrastructure.
- The price of Sputnik V is less than $10 per shot, making it affordable around the world.
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 80 projects with foreign partners totaling more than RUB2 tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people and generate revenues which equate 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.