(Yicai Global) Jan. 21 -- Shares of Fosun Pharmaceutical Group and BrightGene Bio-Medical Technology surged today after the two Chinese drugmakers received the approval from the United Nations to produce Molnupiravir, an oral treatment for Covid-19.

Fosun Pharma [SHA: 600196] closed up 6 percent at CNY51.42 (USD8.11) today, after earlier soaring as much as 10 percent. BrightGene’s stock [SHA: 688166] surged by the 20 percent exchange-imposed limit to CNY38.28 today.

Medicines Patent Pool said on its website yesterday that the UN-backed public health organization signed agreements with 27 pharmaceutical companies to allow them to produce Molnupiravir to promote the oral Covid-19 drug to be affordable and accessible globally.

Except for Fosun Pharma and BrightGene, other three Chinese drugmakers signed the deal: Shijiazhuang Lonzeal Pharmaceuticals, Shanghai Desano Pharmaceuticals, and Zhejiang Langhua Pharmaceutical.

Jointly developed by US firms Merck and Ridgeback, Molnupiravir is an investigational new drug and an oral ribonucleoside analog that inhibits the replication of SARS-CoV-2. It is the world’s first approved oral medicine to treat Covid-19.

Molnupiravir obtained a conditional marketing authorization from the UK Medicines and Healthcare products Regulatory Agency in November 2021. Last month, it received an emergency use authorization from the US Food and Drug Administration and a special approval for emergency from Japan’s Ministry of Health, Labor and Welfare.

Editor: Futura Costaglione