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MarketScreener Homepage  >  Equities  >  Shanghai Stock Exchange  >  Shanghai Fosun Pharmaceutical Group Co., Ltd.    600196   CNE000000X38

SHANGHAI FOSUN PHARMACEUTICAL GROUP CO.,

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Shanghai Fosun Pharmaceutical : Fosun Pharma and BioNTech form COVID-19 vaccine strategic alliance in China

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03/15/2020 | 06:37am EDT

(15 March 2020, Shanghai, Hong Kong) - Today, Fosun Pharma industrial, a subsidiary company of Shanghai Fosun Pharmaceutical (Group) Co., Ltd ('Fosun Pharma' or 'the Group'; Stock Code: 600196.SH, 02196.HK) and BioNTech SE (NASDAQ: BNTX, 'BioNTech' or 'the Company') announced a strategic development and commercialization collaboration to advance BioNTech's mRNA vaccine in China for the prevention of COVID-19 infections.

Under the terms of the agreement, the two Companies will work jointly on the development of COVID-19 vaccines based on BioNTech's mRNA technology platform in China. The Companies will collaborate to conduct clinical trials in China leveraging Fosun Pharma's extensive clinical development, regulatory, and commercial capabilities in the country. BioNTech will supply the mRNA vaccine for clinical trials from GMP manufacturing facilities in Europe.

mRNA is a nucleic acid molecule that carries genetic information. The mRNA vaccine introduces the genetic information into the body, so that the cells in the body produce the corresponding antigen, which induces the body to produce neutralizing antibodies and stimulates the response of T cells, and fights against the virus through the dual mechanisms of humoral immunity and cellular immunity. In the face of a sudden epidemic, compared with traditional vaccines, synthesis and production process of mRNA vaccine is more convenient, and has strong immunogenicity, which does not need additional adjuvant as needed by the traditional vaccine, and with good safety.

BioNTech is a leading mRNA technology company that has diversified mRNA platform technologies, integrated R&D system and strong manufacturing capability. 'The mRNA technology introduces genetic information into human body, then the body's own cells produce the corresponding proteins that cure or prevent disease. Fosun Pharma R&D has been tracking the development of this technology. The two companies expect further cooperation in this field,' says Dr. Aimin Hui, President of Fosun Pharma Global R&D.

'We see this collaboration as an important step in our global effort to expedite the development of mRNA vaccines to prevent COVID-19 infection. Fosun Pharma shares our commitment to move rapidly to address the COVID-19 outbreak and brings deep development experience and an extensive network in the pharmaceutical market in China,' says Founder and CEO of BioNTech, Ugur Sahin, M.D.

Wu Yifang, President and CEO of Fosun Pharma states, 'A potential pandemic requires a collective effort and both companies are passionate about contributing to the fight against the current coronavirus outbreak. We are excited to collaborate with BioNTech, one of the leading companies worldwide in the mRNA field. Our shared objective is to develop a vaccine against the coronavirus and to be able to rapidly manufacture a vaccine to turn the tide of COVID-19 infection.'


Under the terms of the agreement, Fosun Pharma will pay BioNTech up to $85 million in licensing fees (including a down payment, clinical development registration and sales milestone payments) as agreed, and a sales commission equal to 35% of the product's annual gross profit during the agreed sales commission period. Meanwhile, Fosun Pharma has agreed to make an equity investment of USD 50 million (EUR 44 million) for 1,580,777 ordinary shares in BioNTech.

Disclaimer

Shanghai Fosun Pharmaceutical (Group) Co. Ltd. published this content on 16 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 March 2020 11:36:01 UTC

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Financials
Sales 2020 32 408 M 4 587 M 4 587 M
Net income 2020 3 526 M 499 M 499 M
Net Debt 2020 13 549 M 1 918 M 1 918 M
P/E ratio 2020 24,8x
Yield 2020 1,19%
Capitalization 83 082 M 11 757 M 11 759 M
EV / Sales 2019
EV / Sales 2020 2,98x
Nbr of Employees 31 370
Free-Float 62,3%
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 31,82 CNY
Last Close Price 34,42 CNY
Spread / Highest target 22,0%
Spread / Average Target -7,55%
Spread / Lowest Target -37,6%
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NameTitle
Yi Fang Wu President, CEO & Executive Director
Qi Yu Chen Co-Chairman
Fang Yao Co-Chairman
Qian Ren Chairman-Supervisory Board
Xiao Hui Guan CFO, Chief Accountant Officer & Senior VP