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FOSUN INTERNATIONAL LIMITED

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China's Fosun plans plant to make BioNTech's COVID-19 vaccine -Caixin

12/31/2020 | 05:09am EDT
FILE PHOTO: Booth of Fosun Pharma is seen at a medical instruments and equipment expo in Beijing

BEIJING (Reuters) - Shanghai Fosun Pharmaceutical Group is planning a facility in China to produce the COVID-19 vaccine developed by Germany's BioNTech, financial magazine Caixin reported on Wednesday.

The first phase of the China-based manufacturing facility will have production capacity of 200 million doses, Caixin said, citing people familiar with the matter. It did not specify how long it would take to produce that many doses.

Caixin's latest version of the story dropped a paragraph saying that Fosun plans to set up a joint venture with BioNTech.

In a written response to a Reuters request for comment, a BioNTech representative said the detailed supply arrangement will be subject to further negotiation and agreement between the companies.

"BioNTech and Fosun Pharma are communicating about these possible forms," the representative added.

Fosun Pharma had said it aims to move from importing finished vaccine from the German company to conducting some filling procedures on its own, using imported bulk ingredients and then eventually making vaccines from scratch, though it has not announced a specific timeline.

Fosun this month said it will buy at least 100 million doses of vaccine from BioNTech for use in mainland China next year if the vaccine receives regulatory approval in the country.

(Reporting by Roxanne Liu and Ryan Woo; Editing by Kim Coghill and David Goodman)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BIONTECH SE 3.41% 351.81 Delayed Quote.331.56%
FOSUN INTERNATIONAL LIMITED 1.35% 10.52 End-of-day quote.-13.63%
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD. 5.24% 86.71 End-of-day quote.60.60%
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Financials
Sales 2021 153 B 23 671 M 23 671 M
Net income 2021 13 090 M 2 023 M 2 023 M
Net Debt 2021 111 B 17 119 M 17 119 M
P/E ratio 2021 5,43x
Yield 2021 3,95%
Capitalization 73 252 M 11 320 M 11 321 M
EV / Sales 2021 1,20x
EV / Sales 2022 1,12x
Nbr of Employees 76 000
Free-Float 27,7%
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Fosun International Limited Technical Analysis Chart | 656 | HK0656038673 | MarketScreener
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Mean consensus BUY
Number of Analysts 9
Last Close Price 8,75 CNY
Average target price 10,98 CNY
Spread / Average Target 25,4%
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Managers and Directors
Qi Yu Chen Co-Chief Executive Officer & Executive Director
Xiao Liang Xu Co-Chief Executive Officer & Executive Director
Ping Gong Chief Financial Officer & Executive Director
Hou Lin Zhang Co-Chief Financial Officer & Senior Vice President
Li Gang Zhang Co-CFO & GM-Financial Management
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