SOLUTN

0.075

(%)

FINISHED PRODUCT AND BULK PRODUCT SUPPLY AGREEMENTS BETWEEN SOLUTION BIOLOGICS SDN BHD ("SOLBIO"), A WHOLLY-OWNED SUBSIDIARY OF SOLUTION GROUP BERHAD ("SGB") AND CANSINO BIOLOGICS INC ("CANSINO") FOR THE SUPPLY OF COVID-19 VACCINE ("VACCINE") ("AGREEMENT(S)")

SOLUTION GROUP BERHAD

Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-30072021-00001
Subject FINISHED PRODUCT AND BULK PRODUCT SUPPLY AGREEMENTS BETWEEN SOLUTION BIOLOGICS SDN BHD ("SOLBIO"), A WHOLLY-OWNED SUBSIDIARY OF SOLUTION GROUP BERHAD ("SGB") AND CANSINO BIOLOGICS INC ("CANSINO") FOR THE SUPPLY OF COVID-19 VACCINE ("VACCINE") ("AGREEMENT(S)")
Description 
Reply to Query
Query Letter Contents

We refer to your Company’s announcement dated 30 July 2021, in respect of the aforesaid matter.
In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1) To confirm the tenure of each Agreement, i.e. whether it is for 10 years commencing from 30 July 2021, or for the period of July to December 2021.
2) Whether each Agreement is subject to renewal, and if yes, the details of such renewal.
3) The value of each Agreement, or the basis of determination thereof.
4) The date/expected date of submission to the National Pharmaceutical Regulatory Agency for the registration and commercialisation of the Vaccine, and the date/expected date of approval.
5) The risks in relation to the Agreements.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

 

Yours faithfully,
Listing, 
Regulation

Cc : Market Surveillance Dept. , Securities Commission (via fax)

The Company wishes to provide the following additional information:

 

1) It is for 10 years. For the year 2021, it is from 30th July to 31st Dec 2021.

 

2) There is no renewal clause in both of the Agreements.

 

3) The total value of both of the Agreements combined is between RM300 million to RM600 million annually.

 

4) The Vaccine had received the Production Registration Conditional Approval from the Drug Control Authority on 16 June 2021. In addition, we will be submitting an application for Good Manufacturing Practice (GMP) audit to National Pharmaceutical Regulatory Agency (NPRA) for our local Fill & Finish Facility in August 2021. If approved, we will be able to start local production of finished doses.

 

5) There might be risk of late delivery, especially for COVID-19 vaccine supply during this pandemic time, the demand is more than the supply.  CanSino is continuously upgrading their production capacity to meet the demand.

 

This announcement is dated 2 August 2021.

 

 


Announcement Info

Company Name SOLUTION GROUP BERHAD
Stock Name SOLUTN
Date Announced 02 Aug 2021
Category General Announcement for PLC
Reference Number GA1-02082021-00120


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