Saudi Arabia signs deal with German firm to distribute COVID-19 vaccine

Saudi Arabia has signed an agreement with a German firm to supply and distribute a coronavirus vaccine in the Kingdom. (File/AFP)
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Updated 29 November 2020

Saudi Arabia signs deal with German firm to distribute COVID-19 vaccine

  • The CureVac vaccine successfully passed the first phase of clinical trials in early November
  • The announcement is part of the Saudi government’s initiatives to prevent the spread of COVID-19

JEDDAH: Saudi Arabia has signed an agreement with a German firm to supply and distribute a coronavirus vaccine in the Kingdom.
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) said on Sunday that it had signed the agreement with biopharmaceutical company CureVac on Nov. 27.
Under the agreement, SPIMACO will apply for the necessary approvals from the Ministry of Health and the Saudi Food and Drug Authority (SFDA) to meet the requirements for distributing the vaccine.
The CureVac vaccine successfully passed the first phase of clinical trials in early November. 
Results showed an increase in virus-neutralizing antibodies in all participants who took the dose, and more than 90 percent of patients were shown to have developed antibodies against both the receptors and the COVID-19 spike protein.
CureVac is aiming to lodge a submission to the European Medicines Agency during the first quarter of 2021.
The agreement includes the possibility of extending the supply and distribution rights to the UAE, Kuwait, Bahrain and Oman.
The announcement is part of the Saudi government’s initiatives to prevent the spread of COVID-19. 
In a statement on Nov. 11, Abdullah Al-Assiri, assistant deputy minister for preventive health, said the government had previously signed an agreement to receive early supplies of two or three different vaccines that were in the final stages of their clinical trials.
“Saudi Arabia will be one of the first countries to receive the vaccines,” he said during an interview on Saudia TV.
Saudi health officials have previously announced plans to offer free vaccinations by the end of 2021 to 70 percent of residents who have not contracted the virus.


UK economy shrinks by 2.6% in November, first drop since April

Updated 15 January 2021

UK economy shrinks by 2.6% in November, first drop since April

  • The fall in gross domestic product much lower than the average forecast for a 5.7 percent drop

LONDON: Britain’s economy shrank by 2.6 percent in November, the first monthly fall in output since the depths of an initial COVID lockdown in April, as new restrictions were imposed on much of the country to slow the spread of the disease.
The fall in gross domestic product reported by the Office for National Statistics was much lower than the average forecast for a 5.7 percent drop in a Reuters poll of economists.
The Bank of England estimates Britain’s economy shrank by just over 1 percent over the final three months of 2020, and with a new lockdown in place since January the country is likely to have fallen into a double-dip recession.
The BoE ramped up its bond-buying program to almost 900 billion pounds in November and Governor Andrew Bailey said this week that it was too soon to say if further stimulus would be needed.