Shanghai Fosun Pharmaceutical (Group) Co.,Ltd. (trade name:Fosun Pharma) is a Chinese pharmaceutical company. It is mostly owned by Fosun International.[2]
Wu Yifang is the president and CEO of Fosun Pharma.[5]
Chen Qiyu is co-CEO of Fosun International and Chairman of Fosun Pharma.[6]
History
Fosun Pharmaceutical is a listed company which started A share[7]initial public offering in 1998 and H share in 2012.[8] The English name of the company was initially known as Shanghai Fortune Industrial Joint-Stock Co.,Ltd. (SFIC;Chinese:上海复星实业股份有限公司),[9] but the transliteration of 复星 was later changed from Fortune to Fosun (as Fosun Industrial[10]),as well as changing the name from Industrial (Chinese:实业) to Pharmaceutical (Chinese:医药). The company also shorten the transliteration of the legal suffix 股份有限公司 from Joint-Stock Co.,Ltd. to just Co.,Ltd..
Shanghai Fortune Industrial Joint-Stock Co.,Ltd. was incorporated in 1998,but its predecessor,Shanghai Fortune Industrial Company (Chinese:上海复星实业公司) was incorporated in January 1994. The majority shareholders in December 1994 were Fosun High Technology (Chinese:复星高科技) and its parent company Guangxin Technology (Chinese:广信科技);Guangxin Technology was owned by Guo Guangchang,Liang Xinjun,Wang Qunbin and Fan Wei.[7][10]:8
In 2003 Fosun Pharmaceutical acquired 49% stake of Sinopharm Group (Chinese:国药控股).[nb 1][10]:30[11] In 2008,a year before the initial public offering of Sinopharm Group,Fosun Pharmaceutical owned the direct parent company of Sinopharm Group,Sinopharm Industrial Investment (Chinese:国药产业投资) instead;the majority owner of the joint venture was state-owned China National Pharmaceutical Group (Sinopharm).[nb 2][12][13][14]
An intermediate parent company of Fosun Pharma,Fosun International (parent company of Fosun High Technology),became a listed company in 2007.[15]
In 2016,according to the Financial Times,Fosun Pharmaceutical made the largest Indian corporate takeover by a Chinese company. The parties have now reached agreement that Fosun Pharma will acquire an approximate 74% stake in Gland Pharma for no more than US$1,091.30 million,including paying no more than US$25 million contingent consideration for Gland Pharma's Enoxaparin sales in the U.S. market.[18] Despite the offer was revised in 2017 to seek approval from Indian regulators.[19][20] In October 2017,the acquisition of 74% stake of Gland Pharma was completed.[1]:35–36
In September 2017,Israeli subsidiary Sisram Medical (parent company of Alma Lasers) was spin-off as a separate listed company on the Stock Exchange of Hong Kong.[21]As of 31December2017[update],Fosun Pharma owned Sisram Medical 52.83% shares.[22]
In October 2017 Fosun Pharmaceutical,via subsidiaries Fosun Pharmaceutical A.G. and Fosun Industrial[nb 3] bought Tridem Pharma,according to the Financial Times,"an Africa-focused French drug distributor",for not more than €63million.[23][24] In January 2021,the company entered into a partnership with Insilico Medicine,to facilitate the latter's entry into the Chinese market.[25]
COVID-19
Initial Responses
The company developed 2019-nCoV nucleic acid detection kit (PCR) which received emergency use authorization (EUA) from the FDA,was approved by the NMPA,and received CE certification from the European Union,as an in vitro diagnostic reagent.[26][27] By August 2020 Fosun Pharma donated medical masks,protective clothing,medical non-invasive ventilators,negative pressure ambulances,and other equipment and supplies valued at more than RMB 30 million to the epidemic area.[28]
On March 17,2020,BioNTech received a $135 million investment from Fosun in exchange for 1.58 million shares in BioNTech and the future development and marketing rights of the mRNA vaccine BNT162b2 in China.[29] Also,BioNTech announced a collaboration with Pfizer to scale-up manufacturing capacity to provide worldwide supply in response to the pandemic. BioNTech and Pfizer would commercialize the vaccine worldwide except in China,which was already covered by BioNTech's agreement with Fosun.[30]
Initial Investment in BioNTech and Early Testing
On August 5,Fosun and BioNTech announced an initial Phase 1 trial in China that enrolled 144 volunteers to evaluate the safety and immunogenicity of BNT162b1.[31] On November 4,Fosun announced it would stop further trials of BNT162b1,as results from trials in Germany,United States,and China all showed BNT162b2 to have a better safety profile.[32][33] BNT162b2 had missed an opportunity window to get tested in China,as another vaccine Fosun had started trials of BNT162b1 before trials data showed BNT162b2 as being the safer vaccine. Fosun's Chief Medical Officer Hui Aimin said that he didn't regret testing BNT162b1 without waiting for all the data. “For ordinary vaccines,it does not matter if you wait for a few days,or a month,”Hui said. “But for COVID-19 vaccines,how many more people would have died had you waited just for one day?”[33]
Regulation and Commercialization
Fosun said it would instead focus on seeking Chinese regulatory approval for BioNTech's other candidate BNT162b2 which was already in Phase III trials by Pfizer since July. Fosun would apply for a bridge study on BNT162b2,designed to test if the large trial data done overseas could be extrapolated to the populace of China.[33]
In early August,Fosun and BioNTech signed an agreement with HKSE-listed Jacobson Pharma to supply 10 million doses of BNT162b2 to Hong Kong and Macau.[34]
On November 6,Fosun was hopeful BNT162b2 could be available in China as soon as it became available in the United States and Europe.[35] On November 20,Pfizer applied for emergency use approval from the Food and Drug Administration for BNT162b2.[36]
Shareholders
Fosun Pharmaceutical had two classes of ordinary share:A shares which only traded in mainland China as well as H share which only traded in Hong Kong.
As of 31December2017[update],there was 2,011,190,000 number of A shares and 483,941,000 number of H shares,for a total of 2,495,131,000,[1]:174 which Fosun International's wholly owned subsidiary,Fosun High Technology,owned 936,575,490 and 9,989,000 number of shares respectively.[1]:59
Fosun High Technology also once owned 23.45% of the convertible bond (SSE:100196) of Fosun Pharma in 2003.[10]:6
As of 31December2017[update],co-founder of Fosun High Technology and now co-owner of the parent company of Fosun International,Guo Guangchang and Wang Qunbin,still served as non-executive directors of Fosun Pharmaceutical.[1]:2As of 31July2019[update],the market capitalization of the H share of Fosun Pharma was HK$12,943,004,725.[37]
Footnotes
↑ Sinopharm Group was previously transliterated as Sinopharm Holding
↑ Despite it is a namesake of the former name of Fosun Pharmaceutical, Fosun Industrial (simplified Chinese:复星实业（香港）有限公司; traditional Chinese:復星實業（香港）有限公司) was incorporated in Hong Kong.[1]:211
Related Research Articles
Pfizer Inc. is an American multinational pharmaceutical and biotechnology corporation headquartered at The Spiral in Manhattan, New York City. The company was established in 1849 in New York by two German entrepreneurs, Charles Pfizer (1824–1906) and his cousin Charles F. Erhart (1821–1891).
Fosun International Limited is a Chinese multinational conglomerate holding company. Founded in 1992 by Guo Guangchang and four others, the company is headquartered in Shanghai and was incorporated in Hong Kong in 2004. Its Co-CEOs are Chen Qiyu and Xu Xiaoliang. Wang Qunbin joined Guo Guangchang as co-chairman in early 2020. The company is located in 16 countries and is one of the largest privately owned conglomerates in China. It was ranked 371st on the Forbes Global 2000 ranking in 2020.
Sinopharm Group Co., Ltd. is a Chinese pharmaceutical company. The parent company of Sinopharm Group was Sinopharm Industrial Investment, a 51–49 joint venture of state-owned enterprise China National Pharmaceutical Group and civilian-run enterprise Fosun Pharmaceutical.
China National Pharmaceutical Group Corporation (CNPGC), commonly referred to as Sinopharm, is a Chinese state-owned enterprise. The corporation was the indirect major shareholder of publicly traded companies Sinopharm Group, China Traditional Chinese Medicine, Shanghai Shyndec Pharmaceutical, and Beijing Tiantan Biological Products.
BioNTech SE is a German biotechnology company based in Mainz that develops and manufactures active immunotherapies for patient-specific approaches to the treatment of diseases. It develops pharmaceutical candidates based on messenger ribonucleic acid (mRNA) for use as individualized cancer immunotherapies, as vaccines against infectious diseases and as protein replacement therapies for rare diseases, and also engineered cell therapy, novel antibodies and small molecule immunomodulators as treatment options for cancer.
COVID-19 Vaccines Global Access, abbreviated as COVAX, is a worldwide initiative aimed at equitable access to COVID-19 vaccines directed by the GAVI vaccine alliance, the Coalition for Epidemic Preparedness Innovations (CEPI), and the World Health Organization (WHO), alongside key delivery partner UNICEF. It is one of the four pillars of the Access to COVID-19 Tools Accelerator, an initiative begun in April 2020 by the WHO, the European Commission, and the government of France as a response to the COVID-19 pandemic. COVAX coordinates international resources to enable low-to-middle-income countries equitable access to COVID-19 tests, therapies, and vaccines. UNICEF is the key delivery partner, leveraging its experience as the largest single vaccine buyer in the world and working on the procurement of COVID-19 vaccine doses, as well as logistics, country readiness and in-country delivery.
The Pfizer–BioNTech COVID-19 vaccine, sold under the brand name Comirnaty, is an mRNA-based COVID-19 vaccine developed by the German biotechnology company BioNTech. For its development, BioNTech collaborated with the American company Pfizer to carry out clinical trials, logistics, and manufacturing. It is authorized for use in humans to provide protection against COVID-19, caused by infection with the SARS-CoV-2 virus. The vaccine is given by intramuscular injection. It is composed of nucleoside-modified mRNA (modRNA) encoding a mutated form of the full-length spike protein of SARS-CoV-2, which is encapsulated in lipid nanoparticles. Initial advice indicated that vaccination required two doses given 21 days apart, but the interval was later extended to up to 42 days in the US, and up to four months in Canada.
Özlem Türeci is a German physician, scientist and entrepreneur. In 2008, she co-founded the biotechnology company BioNTech, which in 2020 developed the first messenger RNA-based vaccine approved for use against COVID-19. Türeci has served as BioNTech's chief medical officer since 2018. Since 2021, she has been Professor of Personalized Immunotherapy at the Helmholtz Institute for Translational Oncology (HI-TRON) and Johannes Gutenberg University Mainz. Türeci and her spouse, Uğur Şahin, have won a number of awards.
ALC-0159 is a PEG/lipid conjugate, specifically, it is the N,N-dimyristylamide of 2-hydroxyacetic acid, O-pegylated to a PEG chain mass of about 2 kilodaltons. It is a non-ionic surfactant by its nature. It has been deployed in the Pfizer-BioNTech SARS-CoV-2 mRNA vaccine that contains the active ingredient tozinameran.
The COVID-19 vaccination program in the Philippines is an ongoing mass immunization campaign against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes coronavirus disease 2019 (COVID-19), in response to the ongoing pandemic in the country. The vaccination program was initiated by the Duterte administration on March 1, 2021, a day after the arrival of the country's first vaccine doses which were donated by the Chinese government.
SARS-CoV-2, the virus that causes COVID-19, was isolated in late 2019. Its genetic sequence was published on 11 January 2020, triggering an urgent international response to prepare for an outbreak and hasten the development of a preventive COVID-19 vaccine. Since 2020, vaccine development has been expedited via unprecedented collaboration in the multinational pharmaceutical industry and between governments. By June 2020, tens of billions of dollars were invested by corporations, governments, international health organizations, and university research groups to develop dozens of vaccine candidates and prepare for global vaccination programs to immunize against COVID‑19 infection. According to the Coalition for Epidemic Preparedness Innovations (CEPI), the geographic distribution of COVID‑19 vaccine development shows North American entities to have about 40% of the activity, compared to 30% in Asia and Australia, 26% in Europe, and a few projects in South America and Africa.
The COVID-19 vaccination in Indonesia is an ongoing mass immunization in response to the COVID-19 pandemic in Indonesia. On 13 January 2021, the program commenced when President Joko Widodo was vaccinated at the presidential palace. In terms of total doses given, Indonesia ranks third in Asia and fifth in the world.
Bangladesh began the administration of COVID-19 vaccines on 27 January 2021 while mass vaccination started on 7 February 2021.
COVID-19 vaccination in Sri Lanka is an ongoing immunisation campaign against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), the virus that causes COVID-19, in response to the ongoing pandemic in the country. As of late July, the Sinopharm BIBP vaccine accounted for 78% of the total 13.8 million vaccines obtained by Sri Lanka to date. The United States donated over 1.5 million Moderna vaccine through COVAX.
COVID-19 vaccination in Taiwan is an ongoing immunization campaign against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), in response to the ongoing pandemic in the country.
COVID-19 vaccination in mainland China is an ongoing immunization campaign against severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) in mainland China, in response to the ongoing pandemic in the region.
The COVID-19 vaccination in the United Arab Emirates is an ongoing mass immunization campaign, in response to the ongoing pandemic.
Kangmei Pharmaceutical Co., Ltd is a large pharmaceutical company based in Guangdong with headquarters in Puning and Shenzhen. Kangmei Pharmaceutical produces medication and medical equipment, with a focus on traditional Chinese medicine. It is traded on the Shanghai Stock Exchange and had a market capitalization of more than 47 billion RMB in 2019.
References
1 2 3 4 5 6 2017 Annual Report(PDF). Fosun Pharmaceutical. 17 April 2018. Retrieved 5 August 2018– via Hong Kong Exchanges and Clearing website.
1 2 上海复星实业股份有限公司(筹)招股说明书概要[Prospectus of Shanghai Fortune Industrial] (in Chinese (China)). Shanghai Fortune Industrial. 23 June 1998. Retrieved 5 August 2018– via jrj.com.cn.
↑ 1999年年报[1999 Annual Report](PDF) (in Chinese (China)). Shanghai Fortune Industrial. 16 February 2000. Retrieved 5 August 2018– via Shanghai Stock Exchange website.
1 2 3 4 2003年年报[2003 Annual Report](PDF) (in Chinese (China)). Fosun Industrial. 24 April 2004. Retrieved 5 August 2018– via Shanghai Stock Exchange website.
↑ 国药集团复星联合成立首家混合所有制药企. 企业观察报 (in Chinese (China)). 4 August 2014. Retrieved 5 August 2018– via Sina.
↑ 2009年年报[2009 Annual Report](PDF) (in Chinese (China)). Fosun Pharmaceutical. 25 March 2010. Retrieved 5 August 2018– via Shanghai Stock Exchange website.
↑ "Connection Transaction"(PDF) (Press release). Shanghai: Fosun International. 20 June 2008. Retrieved 6 August 2018– via Hong Kong Exchanges and Clearing website.
↑ 復星醫藥減持國藥控股. "財話短說" column. Apple Daily (in Chinese (Hong Kong)). Hong Kong: Next Media. 23 June 2008. Retrieved 6 August 2018.
↑ Waldmeir, Patti (22 April 2014). Written at Shanghai. "TPG snaps up Chinese hospital operator". Financial Times. Additional reporting by Zhang Yan. London. Retrieved 5 August 2018.
↑ "Report of the Directors". 2017 Annual Report(PDF). Sisram Medical. 25 April 2018. pp.31–32. Retrieved 5 August 2018– via Hong Kong Exchanges and Clearing website.
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
CN¥ 3.125 billion (2017)
