Sinopharm to Inject $4.6 Bn Covid-19 Vaccine Assets Into Unit Tiantan Biological: Report
3 years, 8 months ago

Sinopharm to Inject $4.6 Bn Covid-19 Vaccine Assets Into Unit Tiantan Biological: Report

News 18  

Chinese state-owned Sinopharm plans to inject 30 billion yuan in assets into unit Beijing Tiantan Biological Products Corp Ltd to quickly get its fast-growing vaccine business on the public market, two people told Reuters. Sinopharm aims to begin the injection of six vaccine-focused biological products developers including makers of two COVID-19 vaccines into Shanghai-listed Tiantan in the coming weeks, said the people plus two other people with knowledge of the matter. The six units Sinopharm aims to inject into Tiantan develop and manufacture a range of vaccines including two for COVID-19 as well as injectable cosmetic Botox, their websites showed. One of the two COVID-19 vaccines, developed in Beijing, was the first approved for general public use in China in December, and has since gained emergency use approval in countries such as Iraq and Morocco.

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