(Yicai Global) March 24 -- Fosun Pharmaceutical Group’s stock price tumbled after the authorities in Hong Kong and Macao suspended the roll out of the BioNTech coronavirus vaccine that the Chinese drugmaker is licensed to distribute in China.
Fosun Pharma’s shares [SHE: 600196] ended 5.8 percent lower today at CNY37.66 (USD5.77), after earlier plunging as much as 8.3 percent. The broader Shenzhen Composite Index came off 1.3 percent.
Fosun Pharma had word from BioNTech last night that the lids on some vials of the German vaccine maker’s coronavirus jabs supplied to Hong Kong and Macao were defective, the Shanghai-based company said today. The two firms are looking into the cause of the problem.
Hong Kong approved the vaccine for emergency use in January, while Macao granted special import authorization last month. The vaccine is still undergoing phase II clinical trials in the Chinese mainland.
Fosun Pharma said there is no evidence of a possible safety risk from the batches involved, subject to the final investigation result, and the matter is not expected to have a significant impact on the group’s normal production and operations.
Editor: Peter Thomas