Shanghai's Fosun to import 100m doses of BioNTech's COVID-19 vaccine
Shanghai Fosun Pharmaceutical Group Co Ltd is to buy at least 100 million doses of a COVID-19 vaccine from Germany’s BioNTech SE for use in China’s mainland next year, if it receives approval.
Wednesday’s announcement followed the granting of a licence by BioNTech to Fosun Pharma for the company to exclusively develop and commercialize its vaccine products developed based on BioNTech’s proprietary technology platform.
Fosun will pay part of the first batch of advance payment of 125 million euros (US$152.5 million) for the initial supply of 50 million doses before the end of December, according to a stock exchange filing.
The sale and supply will come in finished products as well as formulated bulk drug product for filling and finishing in the Chinese mainland and the initial supply will come from BioNTech’s production facilities in Germany.
Fosun would be entitled to 60 percent of the gross profit from sales of imported bulk ingredients for filling and packaging, and 65 percent of the profit from sales of doses ready for use.
Fosun and BioNTech began a Phase 2 clinical trial of the vaccine in Jiangsu Province in November with participants aged between 18 to 85.
“We are pleased to reach the supply agreement with BioNTech, which is an important step in Fosun Pharma and BioNTech's efforts to achieve vaccine accessibility and affordability in China," said Wu Yifang, Fosun’s Fosun chairman and CEO.
“The R&D and clinical trial of our COVID-19 mRNA vaccine in China has been moving forward rapidly," he added.
Ugur Sahin, CEO and co-founder of BioNTech, said: “This joint development effort with Fosun Pharma is a testament to the importance of global cooperation and reflects our strategy to supply our vaccine globally. This agreement is an important step toward our shared goal of bringing a safe and efficacious vaccine to people worldwide.”