BioNTech's COVID-19 Vaccine Becomes First Foreign Shot To Be Available In Chinese Market

BioNTech's COVID-19 Vaccine Becomes First Foreign Shot To Be Available In Chinese Market
  • German Chancellor Olaf Scholz agreed to allow expatriates in China to use BioNTech SE BNTX made COVID-19 vaccine.
  • BioNTech would be the first non-Chinese coronavirus vaccine in China, as Beijing has insisted on administering domestically produced vaccines.
  • BioNTech partners on COVID vaccines with Pfizer Inc PFE in regions outside Greater China.
  • Also Read: Pfizer/BioNTech Updated Omicron Adapted COVID-19 Vaccine Shows 4-Fold Higher Neutralizing Activity.
  • In October, Moderna Inc's MRNA CEO Stephane Bancel said the company has talked with the Chinese government about supplying COVID-19 vaccines.
  • But the company refused to hand over to China the core intellectual property related to developing its famed COVID-19 vaccine.
  • A spokesperson for BioNTech told Reuters that vaccines for the Chinese market would be initially imported.
  • While the COVID-19 shots are available in Hong Kong, Macau, and Taiwan, the regulatory review for mainland China has not been concluded. 
  • BioNTech has said that decision was up to Chinese regulators and did not give any reason for the delay.
  • No other foreign-made COVID shot has gained access to mainland China's market.
  • Price Action: BNTX shares are up 6.44% at $154.60 on the last check Friday.
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