In a note sent to the Hong Kong Stock Exchange, Fosun explained that the deal is still pending authorization from China to market that vaccine.

The first part of the agreement provides for the sale of 50 million doses, for which a payment equivalent to 125 million euros will be made, until 30 December. The rest will be paid when the Chinese authorities give the green light to market the vaccine in the country.

The Chinese company will keep 65% of the gross annual revenues obtained from the sale of the vaccine in China. BioNTech takes the remaining 35%.

Fosun warned, however, that “there is no guarantee” that the BioNTech vaccine will be authorized to be marketed in China, a country that has not yet approved any vaccine other than for emergency use and in very specific cases, despite several Chinese companies have vaccines in the last testing phase.

Earlier this month, a Chinese government official said Beijing would approve the commercialization of 600 million doses of the coronavirus vaccine before the end of the year, but there has yet to be official confirmation.

The vaccine developed by Pfizer and BioNTech has already received authorization in several countries, including the United States, United Kingdom, Canada, Singapore, Mexico and Costa Rica.

The covid-19 pandemic caused at least 1.621.397 deaths resulting from more than 72,7 million cases of infection worldwide, according to a report made by the French agency AFP.

The disease is transmitted by a new coronavirus detected in late December 2019 in Wuhan, a city in central China.

Source: Jornal Económico