(Yicai Global) Dec. 20 -- Shares in Shanghai Fosun Pharmaceutical Group advanced today after the Chinese drugmaker said that it has been granted formal approval from the Hong Kong government to take the mRNA Covid-19 vaccines developed by Germany’s BioNTech, for which Fosun Pharma is exclusive China distributor, to market.

Fosun Pharma’s shares on the mainland and in Hong Kong both edged up as much as 1.7 percent before falling as investors cashed in. In Shanghai, the stock [SHA:600196] was trading down 0.1 percent at CNY37.14 (USD5) as of 11.30 a.m. China time. While in Hong Kong its stock [HKG:2196] dipped 0.3 percent to HKD25.30 (USD3.20).

Unit Fosun Industrial has received the certificate for registration of the Comirnaty Covid-19 vaccine BNT162b2 and the Omicron BA.4-5-adapted bivalent jab from the Hong Kong government, Fosun Pharma yesterday. The former is a basic immunization shot and the latter is a booster shot. Both are for people aged 12 and above.

The vaccines will now be available at hospitals and clinics in Hong Kong and those who wish to be inoculated should first obtain a prescription from a doctor, the Shanghai-based drugmaker added.

Hong Kong previously approved the two vaccines for emergency use, while Macao granted special import authorization. BNT162b2 is recognized as a routinely imported vaccine in Macao, it added.

Fosun Pharma won the exclusive China rights to develop and commercialize Mainz-based BioNTech’s mRNA vaccines in March 2020, but the partnership has made slow progress.

Editor: Kim Taylor