The Conference Call Releases The Weighty Information On The Research And Development Of The New Mrna Vaccine Fosun Pharmaceutical'S Production Capacity Pressure Behind Its Strong Trading Limit

On the evening of November 9, Pfizer (NYSE: PFE) and BioNTech (Germany) announced that according to the preliminary analysis data of the phase III clinical trial, the effective rate of the jointly developed mRNA vaccine was as high as 90%, while the protection rate of the common influenza vaccine was only about 70%, which was far higher than the previous expectation and more than 50% higher than the FDA requirement.

This major breakthrough news about the new crown vaccine attracted market attention.

It is worth mentioning that Fosun Pharmaceuticals is the R&D partner of BioNTech mRNA new crown vaccine in Greater China. Affected by the news, on November 10, A-share Fosun Pharmaceuticals (600196.SH) rose by the limit at the beginning of trading, and reported 56.66 yuan. Hong Kong stock Fosun Pharmaceutical (02196. HK) once surged more than 20% in the session, closing 14.22% higher.

It is understood that in March this year, Fosun Pharmaceuticals was authorized by BioNTech to exclusively develop, register and commercialize Fosun New Corona Vaccine (temporarily named "Fubitai") for new coronavirus based on its proprietary mRNA technology platform in mainland China, Hong Kong, Macao and Taiwan, and launched clinical trials in China in July.

As for the progress of mRNA vaccine, Fosun held a teleconference at noon on November 10. Guo Guangchang, Chairman of Fosun International (0656. HK), Wu Yifang, Chairman of Fosun Pharmaceutical, Hui Aimin, President of Fosun Pharmaceutical Global R&D Center, Qian Jiannong, Chairman of Fosun Lvwen (1992. HK), etc. attended the conference.

What is the safety of the new mRNA coronal vaccine? How long is the protection? How much will be produced in the future? How will it be stored? The relevant person in charge of Fosun Pharmaceutical answered the question on the conference call.

It is expected that the protection period of the new mRNA crown vaccine will exceed half a year

With regard to the 90% efficiency of cooperative research and development of vaccines, Hui Aimin, president of Fosun Pharmaceutical Global Research and Development Center, said in a teleconference that it was unexpected and overjoyed. "Vaccines that can reach 90% protection level in history should also be very rare."

Hui Aimin explained that the standard set by the FDA of the United States and the regulatory authorities of other countries is that if the vaccine is developed to protect 50% of the population, then it can be approved for marketing if it is effective in this case. When designing the experiment for the new mRNA crown vaccine, the protection rate was 60%, and the protection rate of influenza vaccine every year was about 70%.

At the meeting, some investors were concerned about the protection duration of the candidate vaccine BNT162b2 with a new mRNA crown.

Hui Aimin replied that half a year should be a relatively low indicator, and there is no such data observed for a long time. According to some existing data, "I hope our protection time will exceed the basic requirements and our expectations."

Hui Aimin explained that the problem to be considered for the duration of protection was that the antibody would not disappear soon after it was produced. Take influenza vaccine as an example. Although it is necessary to vaccinate once a year, it does not mean that the protection of influenza vaccine is less than one year, but that the influenza virus changes every year.

Hui Aimin said, "It is entirely expectable that the duration of protection exceeds the minimum of half a year, but we still have to wait for the data, and now we are just making some predictions."

Pre stage or phased production pressure of new mRNA coronal vaccine

According to the current forecast of Pfizer and BioNTech, it is estimated that up to 50 million doses of vaccine will be produced globally by 2020, and up to 1.3 billion doses of vaccine will be produced by 2021.

How many 1.3 billion doses of vaccine will be supplied to China?

Wu Yifang, chairman of Fosun Pharmaceuticals, said in a teleconference on November 10, "At the beginning, everyone needs vaccination, so no matter what, there will be periodic production pressure. Countries around the world will consider vaccination according to their priorities." Wu Yifang said, "At present, we and BioNTech are also in the process of in-depth communication on the supply agreement, and the entire production capacity will be reasonably allocated globally and among our major partners." If necessary, (also consider) capacity construction in China, "we are also actively communicating with the State Food and Drug Administration, and the specific future construction methods and schedules may (exist)."

So, how will Fosun and its partners distribute the economic benefits if the new mRNA vaccine BNT162b2 is launched in China in the future?

Wu Yifang, chairman of Fosun Pharmaceuticals, said, "The gross profit of the Chinese market will be calculated according to the final pricing of the Chinese market and our production costs. If the gross profit is 65%, Fosun Pharmaceuticals is 35%, and BioNTech is responsible for all sales related expenses in 65%."

How to ensure the cold chain transportation after the launch of the new mRNA crown vaccine in the future?

Wu Yifang, chairman of Fosun Pharmaceutical, stressed that Fosun had prepared the supply chain in an all-round way, and through communication with its partner BioNTech, all details of the entire product during transportation, storage and use had been communicated clearly. The current research shows that the product can be thawed once, and some other research is also in progress. "At present, the most conservative cold chain conditions are used to ensure the quality of the product."