Oramed Gets Pre-purchase Order From Tan Thanh For Initial 10 Mln Doses Of Oral Covid-19 Vaccine

(RTTNews) - Oramed Pharmaceuticals Inc. (ORMP), a company focused on the development of oral drug delivery platforms, said on Wednesday that its subsidiary, Oravax Medical, has signed a cooperation and purchase agreement with Vietnamese firm Tan Thanh Holdings Investment Joint Stock Company, for pre-purchase of its oral Covid-19 vaccine, currently in development.

The agreement is for an initial pre-order of 10 million doses of oral Covid-19 vaccines from Oravax and is comprised of milestone payments. In addition, the parties have agreed to negotiate follow-on orders potentially worth hundreds of millions of dollars.

The deal grants Tan Thanh Holdings the right to sell Oravax's oral vaccine in development throughout the Association of Southeast Asian Nations (ASEAN) which includes Vietnam, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, and Thailand.

The ASEAN region spends close to four percent of GDP on healthcare and its pharmaceutical industry is valued at $25 billion and is expected to witness a continued growth in the future.