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According to Reuters, Samsung BioLogics Co Ltd and Pfizer Inc (NYSE: PFE) have denied reports claiming they were working together to produce the COVID-19 vaccine developed in partnership with BioNTech SE (NASDAQ: BNTX) in South Korea.
The Korea Economic Daily reported earlier that the biotech arm of Samsung Group had been revamping production lines at its plant in Songdo to produce the Pfizer/BioNTech vaccine.
The report quoted an unnamed high-level government official and said that the plant could make up to 1 billion doses per year, with production starting from August.
Samsung BioLogics said in a one-line filing to the stock exchange that the report was "not factual."
Pfizer said its current production strategy was centered on its two dedicated supply lines in the U.S. and Europe.
"At this time, we are not in discussions for any additional manufacturing outside these established supply lines for this vaccine," Pfizer said in a statement.
South Korea has secured 192 million doses, enough to vaccinate all 52 million residents twice over.
But President Moon Jae-in is under pressure to secure more and faster deliveries of U.S.-made shots as he heads for his first summit with U.S. President Joe Biden next week.
Price Action: PFE shares are up 0.23% at $39.44 during the premarket session on the last check Wednesday.
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