CanSino Biologics Terminates 10-Year Exclusive Promotion Agreement with Pfizer for MCV4 Vaccine ManHaiXin®

On the evening of the 5th, CanSinoBIO, a vaccine blue-chip stock with a total market value of over 40 billion yuan, announced the termination of its promotion cooperation with Pfizer.

The announcement shows that in July 2020, CanSinoBIO entered into a cooperation agreement with Pfizer, stipulating that CanSinoBIO authorized Pfizer to exclusively promote its MCV4 vaccine product, Menhycia™, in mainland China for a cooperation period of up to 10 years starting from the signing of the agreement until the date when MCV4 obtains drug registration certification. Pfizer is also authorized to use CanSinoBIO's trademarks and technical information within the authorized region during the cooperation period for promoting the MCV4 vaccine product.

Following friendly negotiations, CanSinoBIO and Pfizer signed a termination agreement on June 4, 2022, stipulating that the cooperation agreement would terminate as of the date of signing the termination agreement. The two parties will work together to handle any remaining matters related to the transition under the terminated cooperation agreement.

CanSinoBIO disclosed that the company has not yet generated any sales revenue related to MCV4 and has no outstanding payable to Pfizer. The company has established a fully integrated commercial operation center, and its commercialization team will be responsible for domestic and international market strategies, marketing activity planning, and execution for MCV4. The commercialization of MCV4 will narrow the gap between China and developed countries, filling the void in China's lack of high-end vaccines in this field, thus holding broad prospects in the Chinese market.

Regarding the "breakup" between CanSinoBIO and Pfizer, shareholders in the stock forum have differing opinions, with some claiming "it will drive the sector to decline," while others stated "it’s part of a bigger plan."

The annual report shows that CanSinoBIO is a company dedicated to the research and development, production, and commercialization of innovative vaccines that meet Chinese and international standards. The company has advanced the development of a series of innovative vaccines, with a research pipeline covering several vaccine types with significant clinical demand, including vaccines for the prevention of COVID-19, Ebola virus disease, meningitis, diphtheria-tetanus-pertussis, pneumonia, tuberculosis, and shingles. (China News Finance APP)