Shionogi & Co. said Monday it will develop a vaccine for the novel coronavirus with the aim of starting clinical trials this year.

The Osaka-based company has decided to develop a recombinant protein vaccine through its subsidiary UMN Pharma Inc. while also seeking to discover therapeutic drugs for the disease. Shionogi said it is looking to offer the vaccine for 10 million people.

The company is coordinating its plans with relevant parties, including the Health, Labor and Welfare Ministry.

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