Chinese Covid-19 vaccine producers sink as Biden backs waiving patent, rights on jabs in blow to monopoly, profit outlook

//Chinese Covid-19 vaccine producers sink as Biden backs waiving patent, rights on jabs in blow to monopoly, profit outlook

Chinese Covid-19 vaccine producers sink as Biden backs waiving patent, rights on jabs in blow to monopoly, profit outlook

Shares of Chinese vaccine producers and distributors slumped, led by a record 20 per cent crash in CanSino Biologics, amid concerns about rising competition after President Joe Biden’s team supported unlocking Covid-19 patents to help fight the global pandemic.CanSino tanked by HK$74.20 to HK$291, the biggest slump since the company was listed to add to a four-day, 24 per cent decline. A gauge tracking similar vaccine producers on the mainland tumbled 5.3 per cent, with CanSino’s A shares…

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By | 2021-05-06T03:13:47+00:00 May 6th, 2021|Business|Comments Off on Chinese Covid-19 vaccine producers sink as Biden backs waiving patent, rights on jabs in blow to monopoly, profit outlook