Medical Syringe & Vaccine

Fosun Pharma To Buy 100 Million Doses of BioNTech’s COVID-19 Vaccine For Mainland China

(Reuters) -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.

Read more…