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Founded in 2003, Sinopharm is the largest wholesaler and retailer of drugs and medical devices in China and listed on the Hong Kong Stock Exchange in 2009. It is a core subsidiary of China National Pharmaceutical Group. Sinopharm's largest operating segment is pharmaceutical distribution, making up over 70% of its total revenue by the end of 2023. In 2018, Sinopharm acquired the largest Chinese medical device distributor, China National Scientific Instruments and Materials. Now, medical device distribution accounts for over 20% of Sinopharm's total revenue. Sinopharm's downstream customers range from hospitals and other health services institutions to end-customers.

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China&#39;s Sinopharm Group (OTC: SHTDY) said Wednesday its COVID-19 vaccine candidate BBIBP-CorV — developed in partnership with Beijing Biological Products Institute Co.

China&#39;s Sinopharm COVID-19 Vaccine Shows 79.34% Efficacy

SINOPHARM GROUP CO LTD by Sinopharm Group Co. Ltd.

Sinopharm Group Co Ltd

Sinopharm Gr Co

China&#39;s&nbsp;Sinopharm Group&nbsp;(OTC:<a class="ticker" href="/stock/SHTDY#OTC">SHTDY</a>)&nbsp;said Wednesday its COVID-19 vaccine candidate BBIBP-CorV &mdash;&nbsp;developed in partnership with Beijing Biological Products Institute Co. Ltd &mdash; shows 79.34% efficacy,&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/article/us-health-coronavirus-china-vaccine/china-sinopharms-vaccine-has-79-34-protection-rate-against-covid-19-idUSKBN2940C8" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">Reuters reports</a>.

What Happened:&nbsp;Beijing Biological Products Institute&#39;s vaccine efficacy rate is based on interim results from Phase 3 clinical trials but the firm did not give further details. In October, the Lancet&nbsp;<a class="editor-rtfLink" href="https://www.thelancet.com/journals/laninf/article/PIIS1473-3099(20)30831-8/fulltext" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">had published</a>&nbsp;data from the company&#39;s Phase 1/2 clinical trials.

Reuters notes that Beijing Biological has applied to the National Medical Products Administration for conditional approval of BBIBP-CorV, which would allow limited use of the vaccine among the general public in China.

Leading COVID-19 vaccine candidates that have received conditional approval in the U.S. showed higher efficacy rates; 94.1% for&nbsp;Moderna Inc&#39;s&nbsp;(NASDAQ:<a class="ticker" href="/stock/MRNA#NASDAQ">MRNA</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/20/12/18797213/fda-briefing-document-on-modernas-coronavirus-vaccine-positive-on-efficacy-safety" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">mRNA-1273</a>, 95% for&nbsp;Pfizer Inc&nbsp;(NYSE:<a class="ticker" href="/stock/PFE#NYSE">PFE</a>)/BioNTech SE&#39;s&nbsp;(NASDAQ:<a class="ticker" href="/stock/BNTX#NASDAQ">BNTX</a>)&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/20/12/18619579/what-pfizer-biontech-investors-need-to-know-about-covid-19-vaccine-with-conditional-uk-approval" style="color: rgb(14, 16, 26); background: transparent; margin-top:0pt; margin-bottom:0pt;; color: #4a6ee0;" target="_blank">BNT162b2</a>.&nbsp;

AstraZeneca plc&#39;s&nbsp;(NASDAQ:<a class="ticker" href="/stock/AZN#NASDAQ">AZN</a>)&nbsp;AZD1222&nbsp;COVID-19 vaccine candidate, developed in partnership with Oxford University, <a href="http://www.benzinga.com/general/biotech/20/11/18481988/astrazeneca-covid-19-vaccine-shows-up-to-90-efficacy-in-advanced-trials">showed efficacy</a> between 70% and 90%.

Price Action:&nbsp;SHTDY shares closed at $11.53 on Tuesday.

China's Sinopharm COVID-19 Vaccine Shows 79.34% Efficacy

-AlJazeera

<a href="https://www.aljazeera.com/news/2020/07/bolsonaro-backs-unproven-drug-coronavirus-battle-live-updates-200716001526677.html" title="https://www.aljazeera.com/news/2020/07/bolsonaro-backs-unproven-drug-coronavirus-battle-live-updates-200716001526677.html">https://www.aljazeera.com/news/2020/07/bolsonaro-backs-unproven-drug-coronavirus-battle-live-updates-200716001526677.html</a>

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