(Yicai Global) July 28 -- Fosun Pharmaceutical's shares have held strong even though the Chinese drugmaker warned its investors about the chance of everything going wrong regarding its mRNA vaccine for the new coronavirus.
Fosun Pharma's stock price [SHA:600196] climbed as much as 6.64 percent this morning but fell 0.6 percent to CNY52.61 (USD7.50) by the afternoon. The shares have doubled in value this year, prompted by vaccine development.
There are many uncertainties, the Shanghai-based firm said in a statement yesterday. The vaccine candidate, based on a new production method, needs to complete phase one, two, and maybe even phase three of clinical trials, as well as gain approvals for production and sales, it added.
The messenger ribonucleic acid technology has not yet been approved to be sold anywhere in the world but global drug giants Moderna and Pfizer, as well as China's Walvax Biotechnology, are seeking to use the fast production method for their vaccine candidates.
But much depends on unforeseeable factors. Even after the product is ready, its sales rely on the epidemic situation, distribution channels, and supply, Fosun Pharma added.
Despite the recent stock price rally, Fosun Pharma is operating normally and it has no further information to disclose at the moment, said the firm.
Editor: Emmi Laine