PETALING JAYA: Yong Tai Bhd is finalising its plans for the commercialisation of Covid-19 vaccine with Shenzhen Kangtai Biological Products Co Ltd (SZKT) through its latest partnerships with Tiong Nam Logistics Solutions Sdn Bhd and Healthcliqs Sdn Bhd.
Yong Tai has put into motion its plan for the distribution of vaccine by engaging Tiong Nam to provide total logistics services which include transportation, warehouse space and distribution of the pharmaceutical products.
Aside from that, the group would also collaborate with Healthcliqs, a digital healthcare solution, which would facilitate Yong Tai in getting immediate access to more than 4,000 general practitioners nationwide for the marketing of its medical products.
Today, Yong Taiâs 70%-owned subsidiary YTB Healthcare Sdn Bhd (YTBH) entered into a collaboration agreement for logistic services with Tiong Nam. YTBH also entered into a service provider agreement 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.
According to Yong Tai CEO Datuk Wira Boo Kuang Loon, these partnerships would help Yong Tai 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.
âWe think that it provides us the opportunity to diversify our business away from the tourism and property segment. 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 Chinaâs Sinovac Biotech Ltd, the supply would not be enough for everyone in the near future,â Boo said.
Yong Tai and SZKT are in the final milestone to wrap up its definitive agreement and it is likely to be signed soon now that both the logistics and marketing plans are in place. Both parties state the collaboration can ensure a minimum supply of 20 million doses.
