Fosun Pharma subsidiary gets green light for vaccine trial

Shanghai Fosun Pharmaceutical (Group) Co. announced that its subsidiary, Fosun Adgenvax, has been granted approval by China's National Medical Products Administration to begin clinical trials for its 24-Valent Pneumococcal Vaccine. The vaccine targets 24 pneumococcal serotypes and uses the group's proprietary technology. Clinical trials will begin once the conditions for the same have been fulfilled. The company has invested approximately RMB 44 million (unaudited) in the vaccine's research and development. Fosun cautions that vaccine development involves inherent risks, including potential trial delays or terminations, as well as regulatory hurdles to be overcome. The company reminds investors of the long-term nature of the investment.