From cell culture to packaging, a jab can be produced in just 48 days.

In December 2016, Ruyi acquired British heritage brand Acquascutum from its then owner YGM Trading in Hong Kong and most recently it bought a majority stake in Bally from JAB Luxury.

Shenzhen-listed Shandong Ruyi said on Friday that it will buy a controlling stake in Bally from its parent JAB Holding Co. JAB will retain a minority stake in the company and the present management team of Bally will retain their positions, it said in a regulatory filing.

"But for millions around the world getting a jab still remains a distant prospect.