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Fosun Pharma's subsidiary, BioNTech to set up JV for COVID-19 vaccine production

05/09/2021 08:01
Fosun Pharma's subsidiary, BioNTech to set up JV for COVID-19 vaccine production

- China's Shanghai Fosun Pharmaceutical 600196.SS2196.HK said on Sunday its subsidiary had agreed to set up a joint venture with BioNTech 22UAy.DE for the manufacture and commercialisation of the German firm's COVID-19 vaccine.

Fosun Pharmaceutical Industrial will provide a manufacturing facility with an annual capacity of up to 1 billion doses of BioNTech's COVID-19 vaccine, while BioNTech agreed to license relevant manufacturing technology and know-how to the JV, in which the two firms will hold 50% stake each, Shanghai Fosun Pharma said in a filing.


(Reporting by Roxanne Liu and Ryan Woo; editing by David Evans)

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