China pharma company to buy 100 million BioNTech COVID-19 vaccine

A China’s pharmaceutical company said on
Wednesday that they are going to buy around 100 million doses of the COVID-19
vaccine from BioNTech, a German company, and are waiting for Beijing to approve
its use. Although China has been developing COVID-19 vaccines by themselves and
boosting up their production facilities, but their local companies are also
joining hands with foreign developers for the vaccine.

Shanghai Fosun Pharmaceutical Group said its subsidiary had
entered into an agreement with the German firm aimed at ensuring “an
adequate supply” of vaccines in China, adding it will make an initial
payment of 125 million euros ($152 million) before year-end for 50 million
doses, reported AFP.

Also read: Spanish firm to produce J&J’s virus vaccine in Barcelona

Fosun Pharma also said it would pay the remaining 125 million
euros after receiving authorisation to commercialise the German vaccine in
mainland China.

However, the agreement did not mentioned when the rest 50 million
doses would arrive. Beijing till now have five vaccines in the last stages of
development and said, around one million citizens will get vaccinated after
getting approved for emergency use.

The vaccine will cost 420 yuan ($64), but the statement did not
clarify which vaccine was being offered, reported AFP.

Also read: US could achieve herd immunity by the summer of 2021: Anthony Fauci

Among the five China’s vaccine product, three of them that are
in their last stages of development, use an inactivated form of novel coronavirus
to boost immunity.

Fosum Pharma is majorly-owned by Fosum International, a
Chinese conglomerate that also owns France-based resort giant Club Med and
travel firm Thomas Cook, reported AFP.