Pfizer Clarifies Why China Will Not Feel the Sting of Its Covid-19 Jab, Made With BioNTech(Yicai Global) March 19 -- The potential Covid-19 vaccine candidate that Pfizer is developing with Germany's BioNTech will not be sold in China because the latter has another partnership with a local player, the US pharmaceutical giant said today.
New York-headquartered Pfizer and BioNTech announced on March 17 that they had penned an agreement to try to create an experimental Covid-19 vaccine for global use, excluding China. This prompted inquiries in Chinese media.
On March 15, Shanghai's Fosun Pharmaceutical Group said that its unit will have exclusive rights in China to the Mainz-based firm's Covid-19 jab that is based on messenger ribonucleic acid technologies. Under the deal, Fosun Pharma will pay BioNTech up to USD85 million in royalties and sales commissions of 35 percent of gross annual profits.
Editor: Emmi Laine
