- China is reportedly in talks with Pfizer Inc PFE to secure a license allowing domestic drugmakers to manufacture and distribute a generic version of its COVID-19 antiviral Paxlovid.
- Beijing is keen to finalize licensing deal terms before the Lunar New Year, which begins on January 22.
- Chinese hospitals are overwhelmed after the government removed its "zero-COVID" policy last month, sending infections soaring.
- Related: New Oral COVID-19 Antiviral Might Be Better Than Pfizer's Paxlovid With Faster Recovery, Fewer Side Effects, Data Shows.
- In February last year, China approved Paxlovid, which was supposed to be primarily available via hospitals for high-risk patients in several provinces. Pfizer last month reached an agreement to export Paxlovid to China through a local company.
- Prospective candidates, including Zhejiang Huahai Pharmaceutical and CSPC Pharmaceutical Group, have recently been conducting "bioequivalence tests," Reuters reported.
- In March, 35 generic drugmakers, including five Chinese firms, agreed to make cheap versions of Paxlovid for 95 poorer countries through a licensing arrangement with the U.N.-backed Medicines Patent Pool. That license does not allow the companies to sell generic Paxlovid in China.
- In October, Moderna Inc MRNA refused to hand over to China the core intellectual property related to developing its famed COVID-19 vaccine, citing commercial and safety concerns.
- Price Action: PFE shares are down 1.79% at $50.01 during the premarket session on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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