ANL 30.68 Increased By ▲ 1.83 (6.34%)
ASC 14.94 Decreased By ▼ -0.21 (-1.39%)
ASL 23.90 Decreased By ▼ -0.25 (-1.04%)
AVN 92.00 Decreased By ▼ -5.95 (-6.07%)
BOP 9.14 Decreased By ▼ -0.16 (-1.72%)
BYCO 10.25 Decreased By ▼ -0.10 (-0.97%)
DGKC 135.60 Increased By ▲ 0.10 (0.07%)
EPCL 50.00 Increased By ▲ 0.02 (0.04%)
FCCL 24.62 Decreased By ▼ -0.54 (-2.15%)
FFBL 24.25 Decreased By ▼ -0.97 (-3.85%)
FFL 15.60 Decreased By ▼ -0.44 (-2.74%)
HASCOL 10.74 Decreased By ▼ -0.33 (-2.98%)
HUBC 85.20 Increased By ▲ 0.20 (0.24%)
HUMNL 7.35 Decreased By ▼ -0.35 (-4.55%)
JSCL 24.85 Decreased By ▼ -0.90 (-3.5%)
KAPCO 37.85 Increased By ▲ 0.40 (1.07%)
KEL 4.15 Decreased By ▼ -0.02 (-0.48%)
LOTCHEM 14.78 Decreased By ▼ -0.35 (-2.31%)
MLCF 46.60 Decreased By ▼ -0.58 (-1.23%)
PAEL 38.25 Decreased By ▼ -1.15 (-2.92%)
PIBTL 11.80 Decreased By ▼ -0.24 (-1.99%)
POWER 10.50 Decreased By ▼ -0.15 (-1.41%)
PPL 90.55 Decreased By ▼ -0.45 (-0.49%)
PRL 26.10 Decreased By ▼ -0.59 (-2.21%)
PTC 8.95 Decreased By ▼ -0.10 (-1.1%)
SILK 1.40 Decreased By ▼ -0.05 (-3.45%)
SNGP 38.10 Decreased By ▼ -0.65 (-1.68%)
TRG 141.10 Decreased By ▼ -4.60 (-3.16%)
UNITY 31.50 Decreased By ▼ -1.40 (-4.26%)
WTL 1.57 Decreased By ▼ -0.04 (-2.48%)
BR100 4,936 Decreased By ▼ -22.94 (-0.46%)
BR30 25,403 Decreased By ▼ -330.65 (-1.28%)
KSE100 45,865 Decreased By ▼ -100.6 (-0.22%)
KSE30 19,173 Decreased By ▼ -26.07 (-0.14%)
Business & Finance

Fosun Pharma to buy 100mn doses of BioNTech's COVID-19 vaccine for mainland China

  • Separately, Shenzhen Kangtai Biological Products Co Ltd aims to have enough capacity to produce at least 100 million doses of a vaccine candidate from British partner AstraZeneca PLC by year-end.
16 Dec 2020

Shanghai Fosun Pharmaceutical Group Co Ltd on Wednesday said it will buy at least 100 million doses of a COVID-19 vaccine from Germany's BioNTech SE for use in mainland China next year, if the vaccine receives approval.

The Chinese government has not announced supply deals with Western drugmakers, which instead have partnered local firms.

Fosun said it will be entitled to 60% of annual gross profit from sales of doses that it will make from imported bulk ingredients, and 65% of profit from sales of doses imported ready for use.

For the initial supply of 50 million doses, Fosun will make an advance payment to BioNTech of 250 million euros ($303.80 million) - half by Dec. 30 and the remainder after regulatory approval - the firm said in a Hong Kong stock exchange filing.

The vaccine developed by BioNTech and US partner Pfizer Inc has been administered to the public in Britain and the United States, and has received emergency-use approval in several other countries.

China has granted emergency-use status to two candidate vaccines from state-backed Sinopharm and one from Sinovac Biotech Ltd. It has approved a fourth, from CanSino Biologics Inc, for military use.

Separately, Shenzhen Kangtai Biological Products Co Ltd aims to have enough capacity to produce at least 100 million doses of a vaccine candidate from British partner AstraZeneca PLC by year-end.

Late on Tuesday, Tibet Rhodiola Pharmaceutical Holding Co said it has agreed to double the supply of the Sputnik-V vaccine to its Russian home.

It now aims to make enough doses for at least 40 million Russians next year.

Fosun Pharma has brought two BioNTech candidate COVID-19 vaccines into clinical trials in China and is yet to receive regulatory approval for either.