SFOSF - BioNTech to form JV in China to make 1B doses of COVID19 vaccine

Shanghai Fosun Pharmaceutical (SFOSF) and BioNTech (BNTX) are setting up a joint venture ((JV)) in China with the capacity to manufacture up to 1B doses of the shot to protect against COVID-19. In a stock filing, the SFOSF said night that the companies will invest up to $100M each to set up the venture. The vaccine has yet to be approved in mainland China, where regulations require an in-country clinical trial. BioNTech’s CEO has said the company expects the shot to be approved in July.The JV aims to supply shots for the Chinese population, but no timing was given on when the shots would be distributed.BNTX shares up 7% premarket trading at $196.21 after the company revealed its plans to build manufacturing site to make mRNA-based vaccines in Singapore.

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BioNTech to form JV in China to make 1B doses of COVID19 vaccine