(Yicai Global) June 24 -- China will soon see the first new coronavirus inactivated vaccine at the end of this year or early next year, and shares of the Shanghai-based developer Sinopharm Group [SHA:600511] rose 9.51 percent today to halt trading at CNY49.2 (USD6.96), per bourse rules.

The Wuhan Institute of Biological Products and Beijing Institute of Biological Products units of Sinopharm’s China National Biotec Group subsidiary are developing the inoculant.

Its Hong Kong-listed company Sinopharm Holdings’ shares [HKG:1099] were also up 3.44 percent at HKG19.820 (USD2.80).

The new inactivated inoculant will land on the market at the end of this year or early next year, Duan Kai, director of the Wuhan Institute of Biological Products said in a press release.

The third clinical phase is mostly a large-scale trial, and it must be performed in a pandemic zone. The disease’s incidence, national conditions and international environment must be taken into consideration when choosing a country or region, Duan added.

Favorable Reactions

The Covid-19 inactivated shots developed by Sinopharm’s Wuhan Institute of Biological Products and Beijing Institute of Biological Products each entered Phase I/II clinical trials involving 2,240 subjects on April 12. No serious adverse reactions occurred. The vaccine group produced high-titer antibodies after different procedures and different doses of vaccination according to the clinical trial results of Wuhan Research Institute. The Beijing institute will disclose its outcomes on June 28.

Thousands of Sinopharm staffers have voluntarily undergone vaccination and all have exhibited safe and effective results, with the ratio of adverse reactions much lower than those of other vaccines currently on the market, per the statement.

The Beijing Institute of Biological Products finished the production facility on April 15, which will boost the lab’s coronavirus vaccine output to 120 million doses per year. The Wuhan institute will have an annual output of Covid-19 vaccines of 100 million doses upon completion of its facilities.

Editor: Ben Armour