A phial of the Pfizer-BioNTech COVID-19 vaccine is pictured at the Northern General Hospital in Sheffield, Yorkshire on Dec 8, 2020. (PHOTO / AFP)

Shanghai Fosun Pharmaceutical Group Co Ltd on Wednesday said it will buy at least 100 million doses of a COVID-19 vaccine from Germany’s BioNTech SE for use in the Chinese mainland next year, if the vaccine receives approval.

Fosun said it will be entitled to 60 percent of annual gross profit from sales of doses that it will make from imported bulk ingredients, and 65 percent of profit from sales of doses imported ready for use.

Fosun said it will be entitled to 60 percent of annual gross profit from sales of doses that it will make from imported bulk ingredients, and 65 percent of profit from sales of doses imported ready for use

For the initial supply of 50 million doses, Fosun will make an advance payment to BioNTech of 250 million euros (US$303.80 million) - half by Dec 30 and the remainder after regulatory approval - the firm said in a Hong Kong Special Administrative Region stock exchange filing.

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The vaccine developed by BioNTech and US partner Pfizer Inc has been administered to the public in Britain and the United States, and has received emergency-use approval in several other countries.

The mainland has granted emergency-use status to two candidate vaccines from state-backed Sinopharm and one from Sinovac Biotech Ltd. It has approved a fourth, from CanSino Biologics Inc, for military use.

Separately, Shenzhen Kangtai Biological Products Co Ltd aims to have enough capacity to produce at least 100 million doses of a vaccine candidate from British partner AstraZeneca PLC by year-end.

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Late on Tuesday, Tibet Rhodiola Pharmaceutical Holding Co said it has agreed to double the supply of the Sputnik-V vaccine to its Russian home. It now aims to make enough doses for at least 40 million Russians next year.

Fosun Pharma has brought two BioNTech candidate COVID-19 vaccines into clinical trials in the mainland and is yet to receive regulatory approval for either.  

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