Left Menu
Development News Edition

AstraZeneca in first COVID-19 vaccine deal with Chinese company

The deal underscores Astra's frontrunner position in a global race to deliver an effective vaccine, given that Chinese ventures are leading at least eight of the 26 global vaccine development projects currently testing on humans. Under the agreement Shenzhen Kangtai, one of China's top vaccine makers, will ensure it has annual production capacity of at least 100 million doses of the experimental shot AZD1222, which AstraZeneca co-developed with researchers at Oxford University, by the end of this year, AstraZeneca said.

Reuters | Updated: 06-08-2020 16:11 IST | Created: 06-08-2020 16:05 IST
AstraZeneca in first COVID-19 vaccine deal with Chinese company
Representative image Image Credit: Pixnio

Shenzhen Kangtai Biological Products will produce AstraZeneca Plc's potential COVID-19 vaccine in mainland China, the British drugmaker said on Thursday, its first deal to supply one of the world's most populous countries. The deal underscores Astra's frontrunner position in a global race to deliver an effective vaccine, given that Chinese ventures are leading at least eight of the 26 global vaccine development projects currently testing on humans.

Under the agreement Shenzhen Kangtai, one of China's top vaccine makers, will ensure it has annual production capacity of at least 100 million doses of the experimental shot AZD1222, which AstraZeneca co-developed with researchers at Oxford University, by the end of this year, AstraZeneca said. The Shenzhen-based company must have capacity to produce at least 200 million doses by the end of next year as part of the exclusive framework agreement, its statement on the Chinese social media site WeChat said.

The two companies will also explore the possibility of cooperation on the vaccine candidate in other markets, AstraZeneca said. They did not respond to requests for further comment.

There are no approved vaccines for COVID-19, the highly contagious respiratory illness caused by the coronavirus. AstraZeneca has signed manufacturing deals globally including the United States, Britain, South Korea and Brazil, resulting in a target to make more than 2 billion doses of the vaccine.

For China, this marks another major deal to secure access to a COVID-19 vaccine developed by a foreign company as the country's other potential shots under development enter late stage of human trials. Other collaborations between Chinese and Western players include a tie-up between Germany's BioNTech and Fosun , as well as one between Inovio Pharma and Beijing Advaccine Biotechnology.

The scramble for treatments and vaccines to curb the pandemic has boosted global pharmaceutical companies' shares, particularly those in China. Shenzhen Kangtai's market value has surged almost 90% to about $20 billion over the past month, with shares hitting all-time highs on Tuesday. The Shenzhen-listed stock was down 10% on Thursday.

In 2019, the company, whose main products are vaccines for Hepatitis B, flu and measles and rubella, reported net profits of 259.8 million yuan ($37.4 million) on revenue of 1.94 billion. ($1 = 6.9437 Chinese yuan renminbi)


TRENDING

OPINION / BLOG / INTERVIEW

Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Rwanda’s COVID-19 response commendable but health information system needs improvement

Rwanda is consistently working to improve its health information system from many years. However, it is primarily dependent on the collection and reporting of health data on a monthly basis. Besides, evaluation studies on Rwandas HIS publis...

Videos

Latest News

HSBC, StanChart Hong Kong shares fall after 'FinCEN' leak

HSBC and Standard Chartereds Hong Kong shares fell on Monday after media reports that they and other banks moved large sums of allegedly illicit funds over nearly two decades despite red flags about the origins of the money. BuzzFeed and ot...

Soccer-Premier League talking points

Talking points from the weekends Premier League matches HAVE EVERTON FOUND THEIR NEW GREAT NUMBER NINEDominic Calvert-Lewins first hat-trick in professional football showed all his predatory qualities -- a clever backheel, a lunge at the ba...

Suspect arrested in connection with ricin letter addressed to White House

Authorities have arrested a person suspected of sending the deadly poison ricin in an envelope addressed to the White House but intercepted before it could be delivered there, a law enforcement source said on Sunday.In response to a Reuters...

Australian, British aid workers killed in blast in Solomon Islands

Two men from Australia and Britain who worked for an aid agency that helps to dispose of unexploded bombs were killed in a blast in Solomon Islands, their employer said on Monday. It was not immediately clear if the employees of Norwegian P...

Give Feedback