{"id":20053,"date":"2023-04-04T23:01:00","date_gmt":"2023-04-04T15:01:00","guid":{"rendered":"https:\/\/flcube.com\/?p=20053"},"modified":"2024-12-27T23:08:55","modified_gmt":"2024-12-27T15:08:55","slug":"sph-cansinobio-suspends-covid-19-vaccine-production-for-180-days-amid-market-shifts","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=20053","title":{"rendered":"SPH CanSinoBio Suspends COVID-19 Vaccine Production for 180 Days Amid Market Shifts"},"content":{"rendered":"\n

SPH CanSinoBio, a joint venture between Shanghai Pharmaceuticals Group (SHA: 601607<\/a>, HKG: 2607<\/a>) and CanSino Biologics (SHA: 688185<\/a>, HKG: 6185<\/a>), has reportedly decided to halt production of COVID-19 vaccines as of April 4 for a period of 180 days, citing changes in the external market environment. The company, which is focused on the manufacturing of Convidecia (recombinant novel coronavirus vaccine, adenovirus type 5 vector), has made this decision in response to the evolving dynamics of the vaccine market.<\/p>\n\n\n\n

Convidecia: A Pioneering Vaccine with Dual Immune Protection<\/strong>
Convidecia was the first adenovirus-based COVID-19 vaccine in China, receiving conditional approval in February 2021. The vaccine is known for inducing both humoral and cellular immune responses with a single dose, providing dual immune protection. Clinical data has shown that after 14 days of single-dose administration, the severe protection rate was 96.0%, and the overall protection rate was 63.7%.<\/p>\n\n\n\n

Market Decline and Supply Exceeding Demand<\/strong>
The market for COVID-19 vaccines both domestically and overseas began to decline rapidly during 2022 and is expected to continue this trend in 2023. The global growth of COVID-19 vaccinations is slowing down, with supply exceeding demand in some regions. This market competition is intensifying, leading to a significant decline in the company’s sales revenue from COVID-19 vaccine products compared to the same period last year.<\/p>\n\n\n\n

Inventory Impairment and Financial Impact<\/strong>
In light of these market conditions, the company has withdrawn more than RMB 800 million (USD 116.2 million) worth of COVID-19 vaccine-related inventory, indicating signs of impairment. This move reflects the financial impact of the changing vaccine landscape and the company’s strategic response to the current market situation.-Fineline Info & Tech<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

SPH CanSinoBio, a joint venture between Shanghai Pharmaceuticals Group (SHA: 601607, HKG: 2607) and CanSino…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7],"tags":[13,890,884,891,1052,196],"class_list":["post-20053","post","type-post","status-publish","format-standard","hentry","category-company","tag-covid-19","tag-hkg-2607","tag-hkg-6185","tag-sha-601607","tag-sha-688185","tag-shanghai-pharmaceuticals"],"yoast_head":"\nSPH CanSinoBio Suspends COVID-19 Vaccine Production for 180 Days Amid Market Shifts - Insight, China's Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"SPH CanSinoBio, a joint venture between Shanghai Pharmaceuticals Group (SHA: 601607, HKG: 2607) and CanSino Biologics (SHA: 688185, HKG: 6185), has reportedly decided to halt production of COVID-19 vaccines as of April 4 for a period of 180 days, citing changes in the external market environment. 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