Russia’s sovereign wealth fund says it is set to supply an antiviral drug approved for the treatment of COVID-19 to some countries.
Among the nations to benefit are South Africa and seven others from Latin America.
The other countries are Argentina, Bolivia, Ecuador, El Salvador, Honduras, Paraguay and Uruguay.
In a statement, the Russian Direct Investment Fund (RDIF) said it has signed deals with all eight countries to supply them with the antiviral drug, known as Avifavir.
“Avifavir is effective in the early and middle stages of infection. Treatment of outpatients with Avifavir can help decrease the number of hospital admissions and reduce the burden on the health-care system,” the RDIF said.
“South Africa is the second BRICS state after Brazil to which RDIF and ChemRar have agreed to supply Avifavir. Thanks to the agreement with 3Sixty Biopharmaceuticals, doctors in South Africa will obtain an effective tool to treat patients at an early stage, preventing the progression of the disease and risk to the lives of patients,” Kirill Dmitriev, chief executive of the RDIF, said.
The investment fund said the technology to make the drug would be transferred to Bolivia’s Sigma Corp SRL for it to be produced locally.
Russia rolls out COVID-19 drug
In May, the Russian health ministry gave approval for use of the drug in treating the novel coronavirus disease.
Russian officials began distributing the drug, registered under the name Avifavir, to patients starting on 11 June.
The RDIF said at the time that the company behind the drug would manufacture sufficient quantities to treat roughly 60,000 people a month.
Although there is currently no vaccine for COVID-19, human trials are being undertaken by many countries.
Russia hopes its approved drug will help to ease strains on the health system and speed up a return to normal economic life.
SA’s COVID-19 count
Meanwhile, South Africa is one of the top five countries with the largest number of coronavirus infections.
As of Tuesday, 4 August 2020, the country had recorded 516,862 COVID-19 infections.
While 358,037 of those infected have since recovered, over 8,000 have been killed by the disease.
The rapid spread of the disease has led to strict lockdown protocols in South Africa, with many businesses forced to shut.
A nationwide lockdown imposed in March has plunged the country into mini-crisis, with unemployment levels rising and the economy struggling.
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