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Coronavirus

Investors applaud Fosun role in promising Pfizer COVID vaccine

Unit of Chinese conglomerate has partnered with Germany's BioNTech

SHANGHAI -- Shares in the main pharmaceuticals unit of Chinese conglomerate Fosun International rose sharply on Tuesday as investors applauded its role in what could be a breakthrough global COVID-19 vaccine.

Pfizer, the U.S. pharma group, and Germany's BioNTech said on Monday that their candidate mRNA vaccine BNT162b2 had demonstrated efficacy of over 90% based on an analysis of its pre-manufacturing phase 3 clinical trial, usually the last hurdle before a drug goes into production.

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