Russia aims for 25% of global COVID-19 vaccine market with its new product

Russia aims to take up 25% of global the COVID-19 vaccine market with its new vaccine within the next several years, according to recent statements by some senior officials of the country’s Ministry of Health and local pharmaceutical business analysts, reports The Pharma Letter’s local correspondent.

The new vaccine is known as Gam-COVID-Vac and was designed by the Gamaleya Center of Epidemiology and Microbiology, and is the world’s first anti-COVID vaccine to gain regulatory approval.

It will be marketed under the Sputnik V brand name and, according to analysts, has a good chance to occupy a niche in the global vaccines market, which current estimates put at more than $75 billion.