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Sinopharm to inject Rs 4.6 billion vaccine assets into unit Tiantan Biological
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Last Updated: Apr 16, 2021, 11:07 AM IST
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Synopsis
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.
Reuters
Chinese state-owned Sinopharm plans to inject 30 billion yuan ($4.6 billion) 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.
By Syndicated Content
By Julie Zhu
HONG KONG (Reuters) - Chinese state-owned Sinopharm plans to inject 30 billion yuan ($4.6 billion) 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 plan comes as China races to develop more homegrown COVID-19 vaccines to challenge Western rivals. President Xi Jinping has pledged China s vaccines for the global public good.
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