Seoul [South Korea], January 3 (ANI/Global Economic): SK Bioscience signed a contract to pre-purchase up to 5 million doses of Novavax's COVID-19 vaccine 'NVX-CoV2373' in 2022.

On December 24, SK Bioscience extended the Novavax vaccine production contract, which was scheduled to be terminated at the end of this year. The pre-purchase contract was newly added to the extended contract.

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The Korean government previously postponed 40 million doses of the Novavax vaccine, which was planned to be used from 2021 to 2022. Under this contract, the government will be able to purchase additional 5 million doses through SK Bioscience if necessary. The government expects Novavax's vaccines to be available for sale after obtaining approval in January 2022.

According to the industry on the 31st, SK Bioscience and the Korean government can pre-purchase up to 5 million doses of Novavax vaccine in 2022 through the contract.

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SK Bioscience signed a contract with Novavax in February 2021 to obtain exclusive licenses for vaccine development, production, and commercialization. The Korean government also signed a contract with SK Bioscience to purchase 40 million doses of the Novavax vaccine.

However, as the approval for the Novavax vaccine has been delayed, it extended and modified the contract this time.

An official from SK Bioscience said, "A condition that can purchase additional 5 million doses of vaccine was newly added in this contract. The purchase amount can be also negotiated if necessary."

According to the revision of the contract, SK Bioscience has also obtained a license to exclusively supply Novavax vaccines to Thailand and Vietnam. (ANI/Global Economic)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)