Fosun Pharmaceutical among five Chinese firms licensed to produce generic version of Pfizer’s oral Covid-19 drug
- The agreements came after China for the first time imported Pfizer’s fully-packaged Covid-19 drug Paxlovid
- The five Chinese drug makers were among 35 firms to sign non-exclusive sublicensing agreements with the United Nations-backed MPP
Five Chinese companies have been licensed to produce a cheaper version of a Pifzer oral Covid-19 treatment for lower-income countries, pushing related stocks higher on Friday.
Shanghai Fosun Pharmaceutical Group, Apeloa Pharmaceutical, Shanghai Desano Pharmaceuticals and Zhejiang Huahai Pharmaceutical signed agreements with the Medicines Patent Pool (MPP), an organisation that aims to increase access to drugs in poorer countries, to produce and supply the raw ingredients for nirmatrelvir and the finished drug – an antiviral inhibitor which prevents the virus from replicating – in 95 lower-income countries. Zhejiang Jiuzhou Pharmaceutical, however, was only licensed to produce the raw ingredients.
The agreements came after China for the first time imported Pfizer’s fully-packaged Covid-19 drug– named Paxlovid. China imported 21,200 boxes of Paxlovid via a tariff-free zone in Shanghai late on Thursday, according to local media outlet The Paper. The drugs were immediately transported to cities which have been most severely affected by the latest wave of Covid-19, the newspaper said.
Paxlovid comprises nirmatrelvir and anti-HIV ritonavir pills, which enhance the concentration of nirmatrelvir for a longer period to better fight the virus. The progress will help China in its own fight against a recent spike in Covid-19 cases, which has led to lockdowns in some areas and rising economic headwinds.
Shanghai Fosun advanced 2.5 per cent on Friday in Shanghai, after gaining 7.5 per cent on Thursday. It added 1.2 per cent in Hong Kong. Apeloa increased 0.2 per cent in Shenzhen, Huahai dropped 4.7 per cent and Jiuzhou lost 4.4 per cent in Shanghai.
