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China's Sinovac attracts $515m to help double COVID vaccine output

CP Group affiliate to take 15% stake in unit making CoronaVac

Some 1.2 million doses of CoronaVac arrived at Soekarno-Hatta International Airport outside Jakarta on Sunday. (Antara Foto/Reuters)

SHANGHAI -- China's Sinovac Biotech has raised more than $500 million from investors to help double production of its COVID-19 vaccine CoronaVac.

Hong Kong-listed Sino Biopharmaceutical, controlled by CP Pharmaceutical Group, is to put in $515 million, giving it a 15% stake in Sinovac Life Sciences, the unit in charge of CoronaVac production.

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