Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
PMI Announces Medicago to Supply Up to 76 Million Doses of Its Plant-Derived COVID-19 Vaccine Candidate
 

A Philip Morris International subsidiary is a shareholder in a biopharmaceutical company that reached agreements with two departments of the Canadian government to accelerate its COVID-19 vaccine candidate efforts


United Arab Emirates -  October 27, 2020:    LAUSANNE, Switzerland--Since 2008, Philip Morris Investments B.V. (PMIBV), a subsidiary of Philip Morris International (PMI) (NYSE: PM), has been a shareholder of Medicago (in which it currently holds an approximately one-third equity stake) and has supported Medicago’s innovative plant-derived research and development focused on vaccines. The investment is consistent with PMI’s own efforts to leverage science and innovation. Japan-based Mitsubishi Tanabe Pharma Corporation (MTPC) is the majority shareholder and PMIBV’s partner in Medicago. Among other things, PMIBV and MTPC will contribute additional funding to support Medicago’s efforts to develop a COVID-19 vaccine candidate.


Medicago, a biopharmaceutical company headquartered in Quebec City, announced that it reached an agreement with Public Services and Procurement Canada (PSPC) to supply up to 76 million doses of its vaccine candidate for COVID-19, subject to Health Canada approval. Innovation, Science & Economic Development (ISED), another department of the Canadian federal government, will contribute C$173M (or approximately $131M) to Medicago to support its on-going vaccine development and clinical trials, and for the construction of its Quebec City manufacturing facility.


PMI’s CEO André Calantzopoulos said: “We welcome the collaboration announced between two departments of the Canadian government and Medicago to accelerate its efforts against COVID-19. Better outcomes can be achieved when governments and companies join efforts to promote shared objectives for the greater good. We are pleased to be able to support Medicago’s work to develop, substantiate, manufacture, and make available a COVID-19 vaccine candidate. We all hope they will be successful.”


Medicago began Phase 1 testing on volunteers on July 14 and is anticipating that Phase 2 trials will begin in early November 2020. If Phase 2 trials are successful, Phase 3 trials are expected to begin in December 2020.

 

Philip Morris International: Delivering a Smoke-Free Future

Philip Morris International (PMI) is leading a transformation in the tobacco industry to create a smoke-free future and ultimately replace cigarettes with smoke-free products to the benefit of adults who would otherwise continue to smoke, society, the company, and its shareholders. PMI is a leading international tobacco company engaged in the manufacture and sale of cigarettes, as well as smoke-free products and associated electronic devices and accessories, and other nicotine-containing products in markets outside the U.S. In addition, PMI ships a version of its IQOS Platform 1 device and its consumables to Altria Group, Inc. for sale under license in the U.S., where the U.S. Food and Drug Administration (FDA) has authorized their marketing as a modified risk tobacco product (MRTP), finding that an exposure modification order for these products is appropriate to promote the public health. PMI is building a future on a new category of smoke-free products that, while not risk-free, are a much better choice than continuing to smoke. Through multidisciplinary capabilities in product development, state-of-the-art facilities, and scientific substantiation, PMI aims to ensure that its smoke-free products meet adult consumer preferences and rigorous regulatory requirements. PMI’s smoke-free product portfolio includes heat-not-burn and nicotine-containing vapor products. As of September 30, 2020, PMI estimates that approximately 11.7 million adult smokers around the world have already stopped smoking and switched to PMI’s heat-not-burn product, available for sale in 61 markets in key cities or nationwide under the IQOS brand. 


Posted by : Dubai PR Network Editorial Team
Viewed 5191 times
PR Category : Banking & Investments
Posted on : Tuesday, October 27, 2020  11:06:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Samsung Receives Prestigious Consumer Friendly Company Certi...
Next Story : SEHA Increases Accessibility of Seasonal Influenza Vaccinati...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Discover Your Perfect Shade of Beige this Autumn/ Winter from Emilia-Romagna [2911-Views]
Celebrate the True Beauty of Emirati Scents this National Day with LOOTAH Perfumes [2903-Views]
"Be Flawless" for the Perfect Complexion [2690-Views]
Karl Lagerfeld Introduces a New Style in the Fall-Winter 2020 Eyewear Collection [2398-Views]
Union Coop Pays Tribute to the Brave Martyrs on Commemoration Day 2020 [2284-Views]
Now Open: Union Coop's Al Warqa City Mall is here [2144-Views]
Together With UAE [2103-Views]
Last Chance to avail Carrefour Friday's Unparalleled Discounts Across UAE [2091-Views]
SLC discusses role of government policies in achieving stable and quality legislation duri... [2087-Views]
Mall of the Emirates and Ski Dubai Launch Festive Activities [2001-Views]
Genesis Luxury Flagship SUV the GV80 Debuts in the Middle East & Africa [1935-Views]
Deep Losses Continue Into 2021 [1915-Views]
Festive Season at Al Maya Supermarkets [1915-Views]
DHA introduces NABIDH, Welcoming the future of Healthcare Excellence in Dubai [1915-Views]
Modon Completes Successful Demolition of Mina Plaza Towers [1820-Views]
Paymentology to Help Reshape the $5.4 Trillion Digital Payments Industry [1812-Views]
Empay, the World's First Contactless Instant Credit Lifestyle Payment Ecosystem, Launched ... [1783-Views]
Breastfeeding Friends Association marked World Prematurity Day [1771-Views]
International Air Connectivity Crisis Threatens Global Economic Recovery [1742-Views]
Al Maya Launches British Week in Dubai [1726-Views]
Rare Case of Bowel Obstruction, Treated Laparoscopically at Aster Hospital in Qusais, Allo... [1689-Views]
ENBD REIT Announces H1 NAV of USD 198 Million (USD 0.79 per share) [1681-Views]
Shoppers Can Spend and Win Big With Top Promotions Over 3 Day Super Sale Weekend [1648-Views]
Mina Rashid Retains Its Title as the World's Leading Cruise Port at the World Travel Award... [1648-Views]
Dubai Sports Council discuss Cooperation with Israeli Club Hapoel Tel Aviv [1644-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories