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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  CanSino Biologics Inc.    6185   CNE100003F01

CANSINO BIOLOGICS INC.

(6185)
  Report
End-of-day quote. End-of-day quote Hong Kong Stock Exchange - 12/02
170 HKD   -2.97%
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Mexico could absorb some COVID-19 vaccine liabilities

10/20/2020 | 01:50pm EST

MEXICO CITY, Oct 20 (Reuters) - Mexico's government could absorb some liabilities arising from unexpected side effects of COVID-19 vaccines but is not considering creating a fund to do so, a top official said.

As various vaccine candidates make their way through different stages of clinical trials, it is unclear who foots the bill if people in poor countries fall sick from treatments.

"If that contingency arises, these funds can be obtained from the treasury," Martha Delgado, the deputy foreign minister in charge of Mexico's international response to the pandemic, told Reuters in an interview.

Under the World Health Organization's (WHO) COVID-19 vaccine plans, known as COVAX, 92 poor countries are eligible to access vaccines at lower or no cost until the end of 2021.

Delgado believes potential side effects will likely be caught during the vaccine trials and by health authorities.

"I don't believe the WHO and its entire network of associations ... would launch (a vaccine) and make available to over 100 countries something that is questionable from the point of view of safety or responsibility," said Delgado.

According to confidential documents reviewed by Reuters and six people familiar with the matter, the WHO has left the issue of financial claims unresolved, as it seeks to ensure that the injections are distributed fairly.

Not participating in COVAX agreements was riskier for Mexico, she said: "How much does that risk cost?" she asked.

The terms for joining COVAX are the same for all signatories, but "if you don't have that agreement, you don't have COVAX, full stop," Delgado said.

The government wants to vaccinate nearly all of Mexico's population against coronavirus by the end of 2021 after reaching deals with pharmaceutical companies Pfizer, AstraZeneca and CanSino, plus with COVAX.

Delgado expects the first vaccine doses to come from the pharmaceutical firms that have promised the earliest deliveries. COVAX has not committed to a date, while Pfizer has offered to start delivering as early as December, she noted.

Delgado had expected vaccinations to begin by April 2021 but now believes it could be sooner..

"The worst scenario for Mexico is that our (U.S.) neighbors have a vaccination campaign four months before Mexico, and there's an issue of closed borders because in Mexico there's no vaccination campaign," said Delgado.

"We have to align these processes regionally," she added. "If we start receiving vaccines in December, perhaps we could also start a vaccination campaign in January or February." (Reporting by Anthony Esposito and Adriana Barrera; Editing by Steve Orlofsky)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC 1.76% 7937 Delayed Quote.2.54%
CANSINO BIOLOGICS INC. -2.97% 170 End-of-day quote.188.38%
PFIZER, INC. 3.24% 40.755 Delayed Quote.6.17%
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Financials
Sales 2020 186 M 28,3 M 28,3 M
Net income 2020 -70,4 M -10,7 M -10,7 M
Net cash 2020 2 901 M 442 M 442 M
P/E ratio 2020 -601x
Yield 2020 -
Capitalization 73 489 M 9 480 M 11 199 M
EV / Sales 2020 380x
EV / Sales 2021 20,0x
Nbr of Employees 429
Free-Float 37,1%
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Mean consensus BUY
Number of Analysts 6
Average target price 167,89 CNY
Last Close Price 170,00 CNY
Spread / Highest target 27,9%
Spread / Average Target -1,24%
Spread / Lowest Target -72,8%
EPS Revisions
Managers
NameTitle
Xue Feng Yu Chairman, Chief Executive Officer & GM
Jiang Feng Li Chairman-Supervisory Board
Shou Bai Chao COO, Executive Director & Deputy General Manager
Jing Wang Chief Financial Officer & Board Secretary
Tao Zhu Executive Director, CSO & Deputy General Manager
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