The federal government isn’t considering putting up money to help buy shares in the only domestic manufacturer of COVID-19 vaccines, but it is “working on a solution” with Medicago’s parent company.
Innovation, Science and Industry Minister François-Philippe Champagne has been in Japan for the past week, pitching Canada as a good location for production of electric vehicles and the batteries that power them. While meeting with the presidents of Mitsubishi Tanabe Pharma and Mitsubishi Chemical, which owns a 79 per cent stake in Medicago, Champagne says there were discussions about the company’s future as a global vaccine manufacturer.
Its biopharmaceutical vaccine has been rejected by the WHO because tobacco company Philip Morris is a minority shareholder, and the UN agency has a strict policy about engagement with the tobacco industry. The Covifenz vaccine was licensed by Health Canada in February for adults aged 18 to 64, and the federal government has signed a contract to buy up to 76 million doses with plans to donate vaccines to low-income countries.Champagne says the government is working with the company to make Medicago “a global leader when it comes to global health.
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