What’s new: Sales of a Chinese version of Pfizer-BioNTech’s Covid-19 mRNA vaccine exceeded 1 billion yuan ($157 million) in 2021, Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (600196.SH) disclosed Wednesday in its annual report.
Fosun is the exclusive partner of Germany’s BioNTech for marketing in Greater China the mRNA vaccine it co-developed with U.S. drug giant Pfizer Inc.. Known in China as the Comirnaty vaccine, the product hasn’t been approved for the Chinese mainland and is sold only in Hong Kong, Macao and Taiwan.
More than 20 million doses were administered in Hong Kong, Macao and Taiwan, Fosun Chairman Wu Yifang said at a media briefing. When asked about the vaccine’s approval on the Chinese mainland, Wu said it’s still under review.
The company reported operating revenue of 39.01 billion yuan in 2021, a 28.7% gain from 2020, with net profit rising 29.28% to 4.74 billion yuan.
The background: Two mRNA Covid-19 vaccines — one developed by Pfizer and BioNTech and another by Moderna — have been widely used worldwide, though Chinese authorities still haven’t cleared any of the advanced-technology inoculations for the mainland.
China has been battling a surge of Covid-19 since the beginning of March as the omicron variant sweeps across the country. China reported nearly 5,000 local infections Tuesday, taking the overall tally this month to roughly 46,000, according to the National Health Commission.
China should encourage domestic drugmakers to upgrade their existing Covid-19 vaccines and introduce more-powerful shots, a medical expert said.
Contact reporter Denise Jia (huijuanjia@caixin.com) and editor Bob Simison (bob.simison@caixin.com)
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