Huahai Pharmaceutical Responds to Paxlovid Business Update: Manufacturing Based on Pfizer Orders, Local Production Not Yet Approved

News on January 9: Huahai Pharmaceutical and Pfizer have signed the "Master Production and Supply Agreement." During the agreement period (5 years), Huahai Pharmaceutical will provide contract manufacturing services for Pfizer's COVID-19 treatment drug, PAXLOVID, which is sold in the Chinese market. A relevant person from the Investor Relations Department of Huahai Pharmaceutical stated, "(Medical insurance) is being negotiated by Pfizer; our company is just doing contract manufacturing for Pfizer." The above-mentioned person said that specific issues regarding medical insurance should be directed to Pfizer, as the company produces based on Pfizer’s orders. Moreover, the localization of (Paxlovid) has not yet been approved. It is understood that since Paxlovid was launched in China, Pfizer has planned to prepare for local production in China. (21st Century Business Herald)