Chinese pharmaceutical company China Meheco Corp announced a partnership with Pfizer to market the US pharma giant’s new Covid-19 pill in China, reports Caixin. Meheco revealed it had agreed a 2022 supply contract that authorized them to commercialize Paxlovid in Mainland China. The agreement details delivery, payments, quality guarantee and assessment, contract termination and dispute resolution involving the partnership.
Speculation on the partnership, the first in China, drove Meheco’s Shanghai-traded shares to climb more than 36% in the past five days. Meheco closed up 2.55% Wednesday at RMB 17.3 ($2.74) apiece. Meheco confirmed its talks with Pfizer Monday.
The final use and sales of the Covid pills are still subject to great uncertainties due to pandemic prevention and control measures and other factors, China Meheco said. Sales of Paxlovid in China are expected to account for a small proportion of the company’s overall business, the company said.