On Wednesday, the actions of Chinese drug manufacturer Shenzhen Kangtai Biological Products plummeted 16. 6% on the Shenzhen Stock Exchange after declaring that AstraZeneca had temporarily stopped testing a COVID-19 vaccine due to an unexplained disease in its Phase III trial (see announcement here). )
Kangtai said last month that he had signed a licensing agreement with AstraZeneca to produce his COVID-19 AZD1222 vaccine in mainland China. Kangtai would produce at least one hundred million doses of the vaccine developed in conjunction with Oxford University until the end of the year. an amount expected to succeed in at least two hundred million doses by the end of 2021, said AstraZeneca, according to a note S
Kangtai, whose products come with vaccines, closed at 162. 00 yuan, a decline from the all-time high of $247. 66 on August 4.
Kangtai is led by billionaire entrepreneur Du Weimin. Du, 56, now has a fortune of $4. 2 billion on Forbes’ real-time billionaire list. That fortune fell to $836 million due to yesterday’s fall in Kangtai shares. His ex-wife Yuan Liping had shares in Kangtai valued nearly $4. 6 billion before yesterday’s fall.
AstraZeneca, a leading European pharmaceutical giant in the race to expand a COVID-19 vaccine, has signed production agreements elsewhere to boost production.
Among the other Chinese corporations involved in vaccine fever, Shanghai Fosun Pharmaceutical, controlled through billionaire Guo Guangchang, and Germany’s BioNTech said on August 5 that the first 72 participants had already won candidate BNT162b1 after approval through Chinese regulator National Medical Products AdministrationArray or NMPA. The test is from BioNTech’s global progression program.
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@rflannerychina
I’m editor-in-chief and editor-in-chief of the Shanghai office of Forbes magazine. Now, in my year at Forbes, I’m compiling Forbes’ China Rich List.
I’m editor-in-chief and head of the Shanghai office of Forbes magazine. Now, in my twentieth year at Forbes, I’m compiling Forbes’ China Rich List. In the past I was a correspondent for Bloomberg News in Taipei and Shanghai and for the Asian Wall Street Journal in Taipei. I am originally from Massachusetts, speak Mandarin fluently and graduated from the University of Vermont and the University of Wisconsin at Madison.