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Sputnik V approval complications related to competition on vaccine market — senior medic

The Sputnik V has still not been authorized by the European Medicines Agency for use in the EU

MOSCOW, September 24. /TASS/. The complications regarding the recognition of the Sputnik V vaccine around the world are related to the competition on the vaccine market, says Gamaleia Center Director Alexander Gintsburg.

"The main complication [with the Sputnik V recognition] lies in the fact that the market of this vaccine medication, this drug, probably exceeds or equals to the market of all other medicines on the planet combined, due to obvious reasons. And the main complication is who gets the profit from using several vaccines […] that are being applied today. The approval of the Sputnik V by international structures opens the opportunity for our commercial structures - the Direct Investment Fund in particular - to access the international currency funds that ensure the vaccination of one or another country that was unable to develop its own vaccine or do not have enough funds to procure it," he said Friday.

The Sputnik V has still not been authorized by the European Medicines Agency for use in the EU. The European Commission has not changed its position since the COVID certificate system started working in early July. EU states that use the Sputnik V (such as Hungary) are allowed to issue European vaccination certificates, but other EU states are free to recognize or not recognize these certificates at will.

The Sputnik V was registered in Russia on August 11, 2020, becoming the first officially registered COVID vaccine in the world.