| Project Detail |
OBJECTIVE
The Project aims to support an emergency response to the health threat posed by COVID-19 pandemic and to help saving lives threatened by the severe acute respiratory syndrome Coronavirus 2 (SARS-CoV-2) through investing in production and distribution of COVID-19 Vaccine and test kits.
DESCRIPTION
The Project involves Shanghai Fosun Pharmaceutical (Group) Co., Limited’s (Fosun Pharma) investments and capital expenditures related to COVID-19 products (including COVID-19 Vaccine). The loan proceeds are expected to finance: (i) specific capital expenditure items of the COVID-19 Vaccine supply plan, including set-up of cold chain logistics infrastructure, expansion and upgrade of manufacturing facilities for fill-finish and production of the COVID-19 Vaccine; (ii) expansion of manufacturing facilities for COVID-19 related products (e.g., test kits); and (iii) working capital needs related to items (i) and (ii). The distribution and manufacturing of the COVID-19 Vaccine, based on a licensing agreement with BioNTech, will be implemented in 3 stages: (i) Fosun Pharma will distribute in China, the vaccine products imported from BioNTech through a network of provincial and local level cold chain warehousing and distribution facilities to vaccination points; (ii) Fosun Pharma will refine bulk vaccine materials from BioNTech into the final vaccine product at the existing Fosun Pharma manufacturing facility locations in China, then distribute them to vaccination points; and (iii) Fosun Pharma will form a joint venture with BioNTech to manufacture COVID-19 bulk materials and refine them into vaccine products in China and will distribute them to vaccination points. |
