(Reuters) - Sinovac Biotech Ltd said on Tuesday it would help Indonesia's state-owned drugmaker Bio Farma produce in the country at least 40 million doses of its potential coronavirus vaccine before March 2021.

The U.S.-listed Chinese drugmaker has signed two agreements with Bio Farma for supply, local production and technology licensing of its vaccine candidate CoronaVac and the Indonesian company is conducting the late-stage study of the candidate.

Sinovac will continue to supply the bulk vaccine until the end of 2021 after March, it said in a statement.

ADVERTISEMENT

There are no approved vaccine for COVID-19, with drugmakers and research organizations racing to develop a safe and effective vaccine that is seen as crucial to combat the pandemic.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Arun Koyyur)