China's vaccine developers stuck with unused mRNA COVID shots and idle manufacturing plants are pursuing new targets for the novel messenger RNA technology, but they face a tough path, crimped by a lack of revenue.
Item 1 of 4 Boxes of messenger RNA vaccines meant to fight against the coronavirus disease developed by Walvax Biotechnology and Abogen Biosciences are displayed at Abogen Biosciences' headquarters in Suzhou, China April 1, 2024. REUTERS/Andrew SilverBoxes of messenger RNA vaccines meant to fight against the coronavirus disease developed by Walvax Biotechnology and Abogen Biosciences are displayed at Abogen Biosciences' headquarters in Suzhou, China April 1, 2024.
China's developers could support vaccine supply in Africa and Asia by producing at low cost and transferring knowledge, said Dicky Budiman, an epidemiologist at Griffith University in Australia who has advised Indonesia's government on COVID.the cost of building, equipping and replacing vaccine plants without subsidies in the U.S. or EU would be around $0.20 per dose annualised over the lifetime of a plant and equipment, but less in China.
CSPC generated 31.45 billion yuan in revenue in 2023 and Walvax $571.4 million, compared with Moderna's revenue of $6.8 billion in the same year., is battling financial losses, and a spokesperson said mRNA vaccines are "not within Pharmaniaga's scope of business direction".
A former Stemirna executive, Frank Zhang, said China's pharmaceutical industry cannot compete with innovative companies abroad because of gaps in technology, talent and ideas.
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