(Yicai Global) Feb. 26 – China’s drug regulator has quickly approved two new Covid-19 vaccines, developed by China National Biotec Group and Cansino Biologics, to raise the country's total to four, including the first single-dose inoculation.
An inactivated vaccine made by CNBG's Wuhan Institute of Biological Products and Cansino's recombinant vaccine have been given the green light to enter the market, the National Medical Products Administration said yesterday, just four days after receiving the applications.
Tianjin-based Cansino's product is China's first domestically developed adenovirus-vectored Covid-19 vaccine. It is also the only such a product to require a single dose instead of two. Before this, China has already approved the use of one inactivated Covid-19 jab, developed by Sinopharm.
The two companies should continue researching the products and reporting their findings, the NMPA added.
CNBG's vaccine has an efficacy rate of 99.1 percent in producing antibodies while the overall rate of protecting against a Covid-19 infection is about 72.5 percent, according to the Sinopharm affiliate's website.
The permit could fuel the performance of Cansino, which is expected to reach profitability this year, according to many equity research institutes, including those of Dongxing Securities and Zhongtai Securities.
But today, investors are still skeptical. Cansino's stock price [HKG: 6185] fell by 6.4 percent to HKD367.80 (USD47.40) by noon. Its Star Market-listed shares [SHA:688185] slid by 4.4 percent to CNY473.50 (USD73.20). Last August, the company became China's first vaccine maker to have its equity listed both in Hong Kong and the Nasdaq-style board.
In 2020, Cansino increased its revenue by more than 10 times to CNY24.9 million (USD3.8 million) from a year earlier, according to its earnings report. But its loss more than doubled to CNY407 million (USD62.9 million).
Editor: Emmi Laine, Xiao Yi