With Covid-19 vac­cine in lim­bo, Chi­na's Fo­s­un inks $628M deal for a Pre­vnar 13 ri­val

Fo­s­un Phar­ma, BioN­Tech’s part­ner for its Covid-19 vac­cine in Chi­na, has its sights set on an­oth­er enor­mous vac­cine mar­ket.

The Shang­hai-based com­pa­ny has bought a ma­jor­i­ty stake in Cheng­du An­te­jin Biotech, which is de­vel­op­ing a shot against 13 strains of pneu­mo­nia-caus­ing bac­te­ria, mak­ing it a sub­sidiary. It’s a two-part deal: On top of pay­ing cur­rent share­hold­ers $173.9 mil­lion (RMB 1.11 bil­lion) in cash to grab a col­lec­tive 32.52%, Fo­s­un will merge its vac­cine busi­ness, Dalian Aleph Bio­med­ical, in­to the com­pa­ny. Aleph is val­ued at $454.2 mil­lion (RMB 2.9 bil­lion).

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