Yong Tai Bhd (YTB) finalises its plans to commercialise Covid-19 vaccine with Shenzhen Kangtai Biological Products Co Ltd (SZKT) through its latest partnerships with Tiong Nam Logistics Solutions Sdn Bhd (Tiong Nam) and Healthcliqs Sdn Bhd (Healthcliqs). Pix by AFP
KUALA LUMPUR: Yong Tai Bhd (YTB) is finalising its plans to commercialise Covid-19 vaccine with Shenzhen Kangtai Biological Products Co Ltd (SZKT) through its latest partnerships with Tiong Nam Logistics Solutions Sdn Bhd (Tiong Nam) and Healthcliqs Sdn Bhd (Healthcliqs).
YTB has put into motions its plan for the distribution of vaccine by engaging Tiong Nam to provide total logistics services including transportation, warehouse space and distribution of the pharmaceutical products.
The group would also collaborate with Healthcliqs, a digital healthcare solution to facilitate the view and order for all range of pharmaceutical products under their solution system.
The partnership with Healthcliqs would enable YTB to have an immediate access to more than 4,000 general practitioners (GPs) nationwide for the marketing of its medical products.
YTB`s 70 per cent-owned subsidiary, YTB Healthcare Sdn Bhd (YTBH) has entered into a collaboration agreement (CA), for logistic services with Tiong Nam.
YTBH has also entered into a service provider agreement (SA) with Healthcliqs to engage Healthcliqs as service provider for the provision of services which include promotional sales campaign, marketing activities and virtual sales representation services of the vaccine.
YTB chief executive officer Datuk Wira Boo Kuang Loon said these partnerships would help the company to have an immediate access to the market that needs the vaccine as well as the critical storage and logistic services for the delivery of vaccine, upon the successful phase III clinical trial and registration with the relevant authorities.
"We are excited about the prospect of working together with Shengzhen Kangtai on the development and commercialisation of Covid-19 inactivated virus vaccine.
"We think that it provides us the opportunity to diversify our business away from the tourism and property segment," he said in a statement today.
He said a lot of planning has been done and we will be investing about RM15 to RM20 million into the Phase III clinical trial of the vaccine.
"While there are other vaccines in the market already such as the one developed by Pfizer, AstraZeneca Plc and even China`s Sinovac Biotech Ltd, the supply would not be enough for everyone in the near future," said Boo.
Boo said the group would finalise the details and planning for the commercialisation of its vaccine via its partnership with Tiong Nam and Healthcliqs.
"Our collaboration with Tiong Nam going forward will help to ensure the delivery of vaccines is done in an efficient and careful manner.
"We think it is important that a strong logistic service provider is involved given the difficulty in storage and delivery of the vaccine.
"It is important that the delivery is done quickly once we have obtained the necessary approval in order to combat against the pandemic.
"This is especially true when the Covid-19 cases are on the rise daily," Boo said, adding that the decision to enter into this business is also part of the Group`s ambition to contribute to the society.
The group`s collaboration with Healthcliqs would help YTB to reach medical providers seamlessly and on a timely manner once the vaccine is approved for utilisation and made available. https://www.nst.com.my/business/2021/01/655054/ytb-finalises-plans-commercialise-covid-19-vaccine
By New Straits Times
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