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    600196   CNE000000X38

SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.

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China's Fosun to seek approval for BioNTech's COVID-19 second vaccine, ends trials on first

11/04/2020 | 04:46am EDT
FILE PHOTO: A company logo is pictured at the headquarters of Shanghai Fosun Pharma Group in Shanghai

SUZHOU, China (Reuters) - BioNTech's Chinese partner Shanghai Fosun Pharmaceutical Group does not plan to run further clinical trials of the German firm's coronavirus vaccine candidate that has completed early-stage trials in China, an executive said.

Fosun will focus instead on seeking Chinese approval for BioNTech's other experimental vaccine which is in final-stage human trials in the United States, Fosun's Chief Medical Officer Hui Aimin told Reuters in an interview.

The vaccine candidate developed by BioNTech and U.S. drugmaker Pfizer Inc is under real-time regulatory review in Europe and could seek emergency use authorisation in the United States after enough safety data is provided as early as this month.

But the candidate known as BNT162b2 missed an earlier window to be tested in China, as Fosun had rushed into Phase 1 trials of a slightly less satisfactory candidate, BNT162b1, before early trials data overseas showed BNT162b2 is safer.

Hui said he did not regret testing BNT162b1 without waiting for more complete data.

"For ordinary vaccines, it does not matter if you wait for a few days, or a month," Hui said. "But for (COVID-19 vaccines), how many more people would have died had you waited just for one day?"

Hui said Fosun was applying for a bridge study for BNT162b2, designed to evaluate whether the large trial data gathered overseas could be extrapolated to the populace of China.

A bridge clinical trial is required for pharmaceutical products which are approved abroad but do not have data to show that ethnic differences can affect their efficacy and safety, China's National Medical Products Administration said.

Hui expected the late-stage candidate could be greenlighted for use in China "around the same time" as the vaccine's global clearance.

Fosun is licensed to exclusively develop and commercialize COVID-19 vaccine products developed by using BioNTech's mRNA technology in mainland China, Hong Kong, Macau and Taiwan. In return it agreed to pay up to $85 million in licensing fees and invest $50 million for a stake in the German firm.

(Reporting by Roxanne Liu in Suzhou and Tony Monroe in Beijing; Editing by Miyoung Kim, Stephen Coates and Raju Gopalakrishnan)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BIONTECH SE 3.41% 351.81 Delayed Quote.331.56%
MSCI TAIWAN (STRD) 0.37% 704.902 Real-time Quote.14.86%
PFIZER, INC. 3.91% 45.68 Delayed Quote.24.10%
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD. 5.24% 86.71 End-of-day quote.60.60%
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Sales 2021 40 184 M 6 211 M 6 211 M
Net income 2021 4 372 M 676 M 676 M
Net Debt 2021 15 917 M 2 460 M 2 460 M
P/E ratio 2021 51,0x
Yield 2021 0,60%
Capitalization 208 B 32 221 M 32 222 M
EV / Sales 2021 5,58x
EV / Sales 2022 4,93x
Nbr of Employees 32 258
Free-Float 58,8%
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Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Technical Analysis Chart | 600196 | CNE000000X38 | MarketScreener
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Number of Analysts 9
Last Close Price 86,71 CNY
Average target price 57,08 CNY
Spread / Average Target -34,2%
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Managers and Directors
Xiao Hui Guan Executive President & Chief Financial Officer
Yu Qing Chen Co-President
Ke Xin Wang Co-President
Dong Ming Li Co-President
Yi Fang Wu Chairman