(Yicai Global) Dec. 6 -- Shares in Beijing Wantai Biological Pharmacy Enterprise, Clover Biopharmaceutical and Sinocelltech Group plunged today, despite the three Chinese vaccine makers all securing regulatory approvals for their Covid-19 jabs within the last two days. This could have to do with investor concerns that too many vaccines are coming on the market.
Wantai Biological’s share price [SHA:603392] plummeted 8.2 percent to close at CNY137.45 (USD19.7), Clover Biopharma’s stock [HKG:2197] sank 10.1 percent to HKD4.08 (USD0.53) while Sinocelltech [SHA:688520] slumped 8.4 percent to CNY68.15 (USD9.75).
Wantai Biological’s Covid-19 nasal spray vaccine, co-developed with Xiamen University and the University of Hong Kong, has been approved for emergency use in China, the Beijing-based company said yesterday.
Sinocelltech and Clover Biopharma’s Covid-19 jabs were greenlit by Chinese regulators on Dec. 4. And a fourth vaccine by unlisted WestVac Biopharma was also given the nod yesterday.
There are now more than 10 Covid-19 jabs on the market in China, and over 50 worldwide, which means competition is getting more fierce, Beijing-based Sinocelltech said on Dec. 4.
More needs to be done to vaccinate the elderly, the country’s cabinet said on Nov. 29. Over 90 percent of those aged 60 and above have received their first Covid-19 jab, but many, especially those aged over 80, have yet to be given booster shots.
Editor: Kim Taylor