China's First mRNA Vaccine Is About To Be Approved

Recently, Fosun Pharma responded to investors' inquiries at the shareholders' meeting, saying that the approval of the mRNA novel coronal vaccine by the Food and Drug Administration has been basically completed, and the expert review has passed. The administrative approval stage is being stepped up at present.

"We have smooth communication with the Food and Drug Administration and other departments, and the relevant departments are also very tight on vaccine approval." Yifang Wu, Chairman and CEO of Fosun Pharma, said that Fosun Pharma and BioNtech have started production preparations ahead of time, and will supply the Fosun vaccine in China as soon as it is approved.

Fosun Pharma's mRNA novel coronal vaccine obtains rights in China through the cooperation with BioNtech. In January and February 2021, BNT162B2 was approved by Hong Kong and Macao respectively, with Hong Kong ordering 7.5 million doses of the vaccine and Macao ordering 400,000 doses of the vaccine from Fosun Pharma. On July 11, 2021, Fosun Pharma issued an announcement that Fosun Industrial (Hong Kong) Co., Ltd., a subsidiary of Fosun Pharma Holding, officially signed a sales agreement with Taiwan Semiconductor Manufacturing Company, FOXCONN, YongLin, and Zuellig Pharma, respectively, to sell a total of 10 million doses of novel COVID-mRNA vaccine to Zuellig Pharma, which was commissioned by TSMC, FOXCONN, and YongLin. This batch of vaccine will be donated by the buyers to disease control agencies in Taiwan for local vaccination.

On May 9, 2021, Fosun Pharma announced the establishment of a joint venture company with BioNtech in China for the local production of mRNA coronavirus. Fosun Pharma will invest $100 million, and BioNtech will take a 50% stake with patented technology and production technology.

Both the mRNA vaccines of BioNtech and Mdoerna had a protection rate of about 95%, which was the most effective novel coronal vaccine. The following figure shows the clinical data of BNT162b.

BNT162b2 will soon become the first mRNA novel coronavirus vaccine in China. In the first quarter of 2021, BNT162b2's sales were 3.462 billion U.S. dollars, and it is expected to exceed 26 billion U.S. dollars for the whole year. Moderna's quarterly report shows that mRNA-1273 sales was 1.733 billion U.S. dollars, and it is expected to exceed 19.2 billion U.S. dollars for the whole year.