View source for Company:Fosun Pharma

{{short description|Chinese pharmaceutical company}}
{{Infobox company
| name = Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
| logo = Fosun Pharma Logo 07.2019.svg
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| type = listed
| traded_as = {{ubl|{{aligned table|{{SSE|600196}}|(A&nbsp;share)|{{sehk|2196}}|(H&nbsp;share)}}|SSE MidCap Component}}
| industry = {{ubl|pharmaceutical|medical}}
| founded = 1994
| founder = {{ubl|Fosun High Technology|Guangxin Technology|and 3 others}}
| former_name = {{bulleted list|Shanghai Fortune Industrial|Shanghai Fosun Industrial}}
| hq_location = 
| hq_location_city = Shanghai
| hq_location_country = China
| area_served =
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| key_people = {{aligned table|Chen Qiyu|(chairman)|Wu Yifang|(CEO)}}
| brands =
| products= 
| services = private hospitals
| revenue =
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| net_income = {{increase}} {{CNY|link=yes|{{0}}3.125&nbsp;billion}}
| net_income_year = 2017
| assets = {{increase}} {{CNY|61.914&nbsp;billion}}
| assets_year = 2017
| equity = {{increase}} {{CNY|25.270&nbsp;billion}}
| equity_year = 2017
| owner = Fosun Int'l (37.94%)
| parent = 
| subsid = {{aligned table|Sinopharm Industrial Investment|(joint venture, 49%)|Sisram Medical|(52.83%)|Gland Pharma|(12%)|Fosun Long March|(100%)|Fosun Industrial|(100%)}}
| website = {{URL|https://www.fosunpharma.com}}
| footnotes = in [[Finance:Consolidated financial statement|consolidated financial statement]]<ref name=FosunPharma2017ARH>{{cite book|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0417/LTN20180417564.pdf|title=2017 Annual Report|date=17 April 2018|access-date=5 August 2018|publisher=Fosun Pharmaceutical|via=Hong Kong Exchanges and Clearing website}}</ref>
| module = {{Infobox Chinese|child=yes|order=st|s=上海复星医药（集团）股份有限公司|t=上海復星醫藥（集團）股份有限公司|p=Shàng hǎi fù xīng yī yào (jí tuán) gǔ fèn yǒu xiàn gōng sī|altname=Chinese short name|s2=复星医药|t2=復星醫藥|p2=fù xīng yī yào|altname3=former Chinese short name|s3=复星实业|t3=復星實業|p3=Fù xīng shí yè}}
}}
'''Shanghai Fosun Pharmaceutical (Group) Co., Ltd.''' ([[Social:Trade name|trade name]]: '''Fosun Pharma''') is a Chinese pharmaceutical company. It is mostly owned by Fosun International.<ref>{{cite news|url=https://www.scmp.com/business/china-business/article/2139979/fosun-pharma-chief-cites-huawei-model-overseas-expansion|title=Fosun Pharma chief cites Huawei as model for overseas expansion|last=Li|first=Jane|date=3 April 2018|work=South China Morning Post|location=Hong Kong|access-date=1 August 2018}}</ref>

As of 2018, the [[Finance:A-share (mainland China)|A shares]] of the company is a constituent of SSE 180 Index as well as its sub-index SSE MidCap Index.<ref>{{cite web|url=http://www.csindex.com.cn/uploads/file/autofile/cons/000044cons.xls|title=SSE MidCap Constituents List|access-date=5 August 2018|publisher=China Securities Index|type=Microsoft Excel}}</ref> The company was ranked 1,840th in 2020 edition of the ''Forbes Global 2000'', a list of top listed companies of the world.<ref>{{cite web|url=https://www.forbes.com/companies/shanghai-fosun-pharmaceutical-group/|title=Shanghai Fosun Pharmaceutical
|access-date=20 December 2020|work=Forbes}}</ref>

== Key people ==
* Wu Yifang is the president and CEO of Fosun Pharma.<ref>{{Cite web|title=Wu Yifang, Shanghai Fosun Pharmaceutical: Profile and Biography|url=https://www.bloomberg.com/profile/person/19136526|access-date=2020-09-07|website=Bloomberg.com|language=en}}</ref>
* Chen Qiyu is co-CEO of Fosun International and Chairman of Fosun Pharma.<ref>{{Cite web|title=Interview: Chen Qiyu – Chairman, Fosun Pharma, China|url=https://pharmaboardroom.com/interviews/interview-with-chen-qiyu-chairman-fosun-pharma-china/|access-date=2020-09-07|website=PharmaBoardroom|language=en-US}}</ref>

==History==
Fosun Pharmaceutical is a listed company which started [[Finance:A-share (mainland China)|A share]]<ref name=prospectus>{{cite book|url=http://stock.jrj.com.cn/share,disc,1998-06-23,600196,00000000000000nv4p.shtml|script-title=zh:上海复星实业股份有限公司(筹)招股说明书概要|trans-title=Prospectus of Shanghai Fortune Industrial|date=23 June 1998|access-date=5 August 2018|publisher=Shanghai Fortune Industrial|via=jrj.com.cn|language=zh-cn}}</ref> [[Finance:Initial public offering|initial public offering]] in 1998 and [[Company:H share|H share]] in 2012.<ref>{{cite news|url=https://www.scmp.com/business/companies/article/1062066/fosun-pharmaceutical-begins-taking-ipo-orders-big-investors|title=Fosun Pharmaceutical begins taking IPO orders from big investors|date=16 October 2012|access-date=5 August 2018|first=Ray|last=Chan|newspaper=South China Morning Post|location=Hong Kong}}</ref> The English name of the company was initially known as '''Shanghai Fortune Industrial Joint-Stock Co., Ltd.''' (SFIC; {{zh|s=上海复星实业股份有限公司}}),<ref>{{cite book|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/600196_1999_0.pdf|script-title=zh:1999年年报|trans-title=1999 Annual Report|date=16 February 2000|access-date=5 August 2018|publisher=Shanghai Fortune Industrial|language=zh-cn|via=Shanghai Stock Exchange website}}</ref> but the transliteration of {{lang|zh|复星}} was later changed from Fortune to Fosun (as '''Fosun Industrial'''<ref name=FosunPharma2003AR/>), as well as changing the name from Industrial ({{zh|s=实业}}) to Pharmaceutical ({{zh|s=医药}}). The company also shorten the transliteration of the legal suffix {{lang|zh|股份有限公司}} from Joint-Stock Co., Ltd. to just Co., Ltd..

Shanghai Fortune Industrial Joint-Stock Co., Ltd. was incorporated in 1998, but its predecessor, '''Shanghai Fortune Industrial Company''' ({{zh|s=上海复星实业公司}}) was incorporated in January 1994. The majority shareholders in December 1994 were Fosun High Technology ({{zh|s=复星高科技}}) and its parent company Guangxin Technology ({{zh|s=广信科技}}); Guangxin Technology was owned by Guo Guangchang, Liang Xinjun, Wang Qunbin and Fan Wei.<ref name=prospectus/><ref name=FosunPharma2003AR/>{{rp|8}}

In 2003 Fosun Pharmaceutical acquired 49% stake of Sinopharm Group ({{zh|s=国药控股}}).{{#tag:ref|Sinopharm Group was previously transliterated as Sinopharm Holding|group=nb}}<ref name=FosunPharma2003AR>{{cite book|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2004-04-24/600196_2003_n.pdf|script-title=zh:2003年年报|trans-title=2003 Annual Report|date=24 April 2004|access-date=5 August 2018|publisher=Fosun Industrial|language=zh-cn|via=Shanghai Stock Exchange website}}</ref>{{rp|30}}<ref>{{cite news|url=http://finance.sina.com.cn/china/20140804/112519905279.shtml|script-title=zh:国药集团复星联合成立首家混合所有制药企|date=4 August 2014|access-date=5 August 2018|newspaper=企业观察报|language=zh-cn|via=Sina}}</ref> In 2008, a year before the initial public offering of Sinopharm Group, Fosun Pharmaceutical owned the direct parent company of Sinopharm Group, Sinopharm Industrial Investment ({{zh|s=国药产业投资}}) instead; the majority owner of the joint venture was state-owned China National Pharmaceutical Group (Sinopharm).{{#tag:ref|China National Pharmaceutical Group itself was also transliterated as Sinopharm Group before the listing of its subsidiary, Sinopharm Group (formerly Sinopharm Holding).|group=nb}}<ref>{{cite book|url=http://pg.jrj.com.cn/acc/CN_DISC/STOCK_TIME/2010/03/25/101000742_nb_0000000000000310lg.pdf|script-title=zh:2009年年报|trans-title=2009 Annual Report|date=25 March 2010|access-date=5 August 2018|publisher=Fosun Pharmaceutical|language=zh-cn|via=Shanghai Stock Exchange website}}</ref><ref>{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2008/0620/LTN20080620371.pdf|title=Connection Transaction|date=20 June 2008|access-date=6 August 2018|publisher=Fosun International |location=Shanghai|via=Hong Kong Exchanges and Clearing website}}</ref><ref>{{cite news|url=https://hk.finance.appledaily.com/finance/daily/article/20080623/11264637|script-title=zh:復星醫藥減持國藥控股|date=23 June 2008|access-date=6 August 2018|newspaper=Apple Daily|location=Hong Kong|department="財話短說" column|publisher=Next Media|language=zh-hk}}</ref>

An intermediate parent company of Fosun Pharma, Fosun International (parent company of Fosun High Technology), became a listed company in 2007.<ref>{{cite news|url=https://www.scmp.com/article/598383/fosun-increases-price-range-ipo-shares|title=Fosun increases price range of IPO shares|date=27 June 2007|access-date=6 August 2018|newspaper=South China Morning Post|location=Hong Kong|first=Carol|last=Chan}}</ref>

In 2014 Fosun Pharma was part of a consortium to acquire US-listed Chindex International, which owned private hospitals in mainland China.<ref>{{cite news|url=https://www.scmp.com/business/china-business/article/1494688/fosun-and-partners-buy-us-hospital-operator-chindex-us433m|title=Fosun and partners buy US hospital operator Chindex for US$433m in sweetened deal|date=23 April 2014|access-date=5 August 2018|newspaper=South China Morning Post|location=Hong Kong|agency=Bloomberg}}</ref><ref>{{cite news|url=https://www.ft.com/content/d23a083a-ca01-11e3-8a31-00144feabdc0|title= TPG snaps up Chinese hospital operator |date=22 April 2014|access-date=5 August 2018|newspaper=Financial Times|publication-place=London|first=Patti|last=Waldmeir|location=Shanghai|others=Additional reporting by Zhang Yan|url-access=subscription }}</ref>

In 2016, according to the ''[[Social:Financial Times|Financial Times]]'', Fosun Pharmaceutical made the largest Indian corporate takeover by a Chinese company. The parties have now reached agreement that Fosun Pharma will acquire an approximate 74% stake in Gland Pharma for no more than US$1,091.30 million, including paying no more than US$25 million contingent consideration for Gland Pharma's Enoxaparin sales in the U.S. market.<ref>{{Cite web|title=Fosun Pharma--News--News Content|url=https://www.fosunpharma.com/en/news/news-details-3700.html|access-date=2020-11-20|website=www.fosunpharma.com}}</ref> Despite the offer was revised in 2017 to seek approval from Indian regulators.<ref>{{cite news|url=https://www.ft.com/content/fafe8cf8-9bb0-11e7-8cd4-932067fbf946|title= Fosun revises its offer for India's Gland Pharma |date=18 September 2017|access-date=5 August 2018|newspaper=Financial Times|publication-place=London|url-access=subscription |location=Hong Kong|first=Don|last=Weinland}}</ref><ref>{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2017/0917/LTN20170917071.pdf|title=JOINT ANNOUNCEMENT - DISCLOSEABLE TRANSACTION - PROGRESS ON ACQUISITION OF THE CONTROLLING INTEREST IN GLAND PHARMA LIMITED |date=17 September 2017|access-date=5 August 2018|publisher=Fosun International, Fosun Pharmaceutical|location=Shanghai|via=Hong Kong Exchanges and Clearing website}}</ref> In October 2017, the acquisition of 74% stake of Gland Pharma was completed.<ref name=FosunPharma2017ARH/>{{rp|35–36}}

In September 2017, Israeli subsidiary Sisram Medical (parent company of Alma Lasers) was spin-off as a separate listed company on the Stock Exchange of Hong Kong.<ref>{{cite news|url=https://www.scmp.com/business/companies/article/2111622/fosun-unit-sisram-medicals-hong-kong-share-offer-draws-strong|title=Fosun unit Sisram Medical's Hong Kong share offer draws strong investor interest, nets company US$88 million|date=18 September 2017|access-date=5 August 2018|newspaper=South China Morning Post|location=Hong Kong|first=Laura|last=He}}</ref> {{as of|2017|12|31}}, Fosun Pharma owned Sisram Medical 52.83% shares.<ref>{{cite book|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0425/LTN20180425515.pdf|title=2017 Annual Report|date=25 April 2018|access-date=5 August 2018|publisher=Sisram Medical|via=Hong Kong Exchanges and Clearing website|chapter=Report of the Directors|pages=31–32}}</ref>

In October 2017 Fosun Pharmaceutical, via subsidiaries Fosun Pharmaceutical [[Finance:Aktiengesellschaft|A.G.]] and Fosun Industrial{{#tag:ref|Despite it is a namesake of the former name of Fosun Pharmaceutical, Fosun Industrial ({{zh|t=復星實業（香港）有限公司|s=复星实业（香港）有限公司}}) was incorporated in Hong Kong.<ref name=FosunPharma2017ARH/>{{rp|211}}|group=nb}} bought Tridem Pharma, according to the ''Financial Times'', "an Africa-focused French drug distributor", for not more than €63&nbsp;million.<ref>{{cite news|url=https://www.ft.com/content/dd7ca00d-6912-37f2-b8b0-0db62a5a9a6d|title= Fosun Pharmaceutical to buy French drug distributor Tridem |date=30 October 2017|access-date=5 August 2018|newspaper=Financial Times|location=London|url-access=subscription }}</ref><ref>{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2017/1029/LTN20171029023.pdf|title=VOLUNTARY ANNOUNCEMENT - ENTERING INTO SECURITIES PURCHASE AGREEMENT IN RELATION TO THE ACQUISITION OF THE ENTIRE EQUITY INTEREST IN TRIDEM PHARMA S.A.S|date=29 October 2017|access-date=5 August 2018|publisher=Fosun Pharmaceutical|location=Shanghai|via=Hong Kong Exchanges and Clearing website}}</ref> In January 2021, the company entered into a partnership with Insilico Medicine, to facilitate the latter's entry into the Chinese market.<ref name="TC 6-6-2022">{{cite news|url=https://techcrunch.com/2022/06/06/hong-kongs-ai-drug-discovery-firm-insilico-50m-series-d/ |title=Hong Kong's AI drug discovery firm Insilico closes $60M Series D|work=TechCrunch|first1=Rita|last1=Liao|date=June 6, 2022}}</ref>

=== COVID-19 ===
'''Initial Responses'''

The company developed 2019-nCoV [[Biology:Nucleic acid|nucleic acid]] detection kit (PCR) which received emergency use authorization (EUA) from the [[Organization:Food and Drug Administration|FDA]], was approved by the NMPA, and received CE certification from the European Union, as an in vitro diagnostic reagent.<ref>{{Cite web|title=Fosun Pharma gets FDA EUA nod for COVID-19 detection kit|url=https://www.biospectrumasia.com/news/25/15816/fosun-pharma-gets-fda-eua-nod-for-covid-19-detection-kit.html|access-date=2020-09-01|website=www.biospectrumasia.com|language=en}}</ref><ref>{{Cite web|title=Coronavirus Tests From Fosun Pharma, Osang Healthcare Receive FDA Emergency Use Authorization|url=https://www.genomeweb.com/molecular-diagnostics/coronavirus-tests-fosun-pharma-osang-healthcare-receive-fda-emergency-use|access-date=2020-09-01|website=GenomeWeb|date=20 April 2020|language=en-us}}</ref> By August 2020 Fosun Pharma donated medical masks, protective clothing, medical non-invasive ventilators, negative pressure ambulances, and other equipment and supplies valued at more than RMB 30 million to the epidemic area.<ref>{{Cite news|date=2020-08-26|title=Fosun Pharma Announces 2020 Interim Results|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/press-releases/2020-08-26/fosun-pharma-announces-2020-interim-results|access-date=2020-09-01}}</ref>

'''COVID-19 Vaccine - BNT162b2'''

On March 17, 2020, [[Company:BioNTech|BioNTech]] received a $135 million investment from Fosun in exchange for 1.58 million shares in [[Company:BioNTech|BioNTech]] and the future development and marketing rights of the [[Medicine:MRNA vaccine|mRNA vaccine]] BNT162b2 in China.<ref name="fosun">{{cite news|author1=Ludwig Burger|date=15 March 2020|title=BioNTech in China alliance with Fosun over coronavirus vaccine candidate|work=Reuters|url=https://www.reuters.com/article/biontech-fosunpharma-vaccine-collaborati/biontech-in-china-alliance-with-fosun-over-coronavirus-vaccine-candidate-idUSL8N2B90UW|access-date=10 November 2020}}</ref> Also, BioNTech announced a collaboration with [[Company:Pfizer|Pfizer]] to scale-up manufacturing capacity to provide worldwide supply in response to the pandemic. BioNTech and Pfizer would commercialize the vaccine worldwide except in China, which was already covered by BioNTech's agreement with Fosun.<ref>{{Cite web|date=2020-04-09|title=Pfizer and BioNTech Announce Further Details on Collaboration to Accelerate Global COVID-19 Vaccine Development|url=https://www.businesswire.com/news/home/20200409005405/en/Pfizer-and-BioNTech-Announce-Further-Details-on-Collaboration-to-Accelerate-Global-COVID-19-Vaccine-Development|access-date=2020-11-21|website=www.businesswire.com|language=en}}</ref>

'''Initial Investment in BioNTech and Early Testing'''

On August 5, Fosun and BioNTech announced an initial Phase 1 trial in China that enrolled 144 volunteers to evaluate the safety and immunogenicity of BNT162b1.<ref>{{Cite press release|last=SE|first=BioNTech|date=2020-08-05|title=BioNTech and Fosun Pharma Announce Start of Clinical Trial of mRNA-based COVID-19 Vaccine Candidate in China|url=http://www.globenewswire.com/news-release/2020/08/05/2073035/0/en/BioNTech-and-Fosun-Pharma-Announce-Start-of-Clinical-Trial-of-mRNA-based-COVID-19-Vaccine-Candidate-in-China.html|access-date=2020-11-21|website=GlobeNewswire News Room}}</ref> On November 4, Fosun announced it would stop further trials of BNT162b1, as results from trials in Germany, United States, and China all showed BNT162b2 to have a better safety profile.<ref>{{Cite medRxiv |last1=Walsh |first1=Edward E. |last2=Frenck |first2=Robert |last3=Falsey |first3=Ann R. |last4=Kitchin |first4=Nicholas |last5=Absalon |first5=Judith |last6=Gurtman |first6=Alejandra |last7=Lockhart |first7=Stephen |last8=Neuzil |first8=Kathleen |last9=Mulligan |first9=Mark J. |last10=Bailey |first10=Ruth |last11=Swanson |first11=Kena A. |date=2020-08-28 |title=RNA-Based COVID-19 Vaccine BNT162b2 Selected for a Pivotal Efficacy Study |language=en |medrxiv=10.1101/2020.08.17.20176651v2}}</ref><ref name=":0">{{Cite news|date=2020-11-04|title=China's Fosun to end BioNTech's COVID-19 vaccine trial, seek approval for another|language=en|work=Reuters|url=https://ca.reuters.com/article/health-coronavirus-fosunpharma-idINL4N2HQ1UU|access-date=2020-11-21}}</ref> BNT162b2 had missed an opportunity  window to get tested in China, as another vaccine Fosun had started trials of BNT162b1 before trials data showed BNT162b2 as being the safer vaccine. Fosun's Chief Medical Officer Hui Aimin said that he didn't regret testing BNT162b1 without waiting for all the data. “For ordinary vaccines, it does not matter if you wait for a few days, or a month,” Hui said. “But for [[Medicine:COVID-19 vaccine|COVID-19 vaccine]]s, how many more people would have died had you waited just for one day?”<ref name=":0" />

'''Regulation and Commercialization'''

Fosun said it would instead focus on seeking Chinese regulatory approval for BioNTech's other candidate BNT162b2 which was already in Phase III trials by Pfizer since July. Fosun would apply for a bridge study on BNT162b2, designed to test if the large trial data done overseas could be extrapolated to the populace of China.<ref name=":0" />

In early August, Fosun and BioNTech signed an agreement with HKSE-listed Jacobson Pharma to supply 10 million doses of BNT162b2 to [[Place:Hong Kong|Hong Kong]] and [[Place:Macau|Macau]].<ref>{{Cite web|date=2020-08-27|title=Fosun Pharma to supply Covid-19 vaccine to Hong Kong, Macau once approved|url=https://www.scmp.com/business/companies/article/3099003/shanghais-fosun-pharma-track-bring-german-partners-covid-19|access-date=2020-11-21|website=South China Morning Post|language=en}}</ref>

On November 6, Fosun was hopeful BNT162b2 could be available in China as soon as it became available in the United States and Europe.<ref>{{Cite web|date=2020-11-06|title=Fosun hopes to launch Covid-19 vaccine in China at same time as US, Europe|url=https://www.scmp.com/business/companies/article/3108801/fosun-hopes-launch-biontech-and-pfizers-covid-19-vaccine-china|access-date=2020-11-21|website=South China Morning Post|language=en}}</ref> On November 20, [[Company:Pfizer|Pfizer]] applied for emergency use approval from the [[Organization:Food and Drug Administration|Food and Drug Administration]] for BNT162b2.<ref>{{Cite news|last1=Weiland|first1=Noah|last2=Thomas|first2=Katie|date=2020-11-20|title=Pfizer Applies for Emergency F.D.A. Approval for Covid-19 Vaccine|language=en-US|work=The New York Times|url=https://www.nytimes.com/2020/11/20/health/pfizer-covid-vaccine.html|access-date=2020-11-21|issn=0362-4331}}</ref>

==Shareholders==
Fosun Pharmaceutical had two classes of ordinary share: [[Finance:A-share (mainland China)|A shares]] which only traded in mainland China as well as [[Company:H share|H share]] which only traded in Hong Kong.

{{as of|2017|12|31}}, there was 2,011,190,000 number of A shares and 483,941,000 number of H shares, for a total of 2,495,131,000,<ref name=FosunPharma2017ARH/>{{rp|174}} which Fosun International's wholly owned subsidiary, Fosun High Technology, owned 936,575,490 and 9,989,000 number of shares respectively.<ref name=FosunPharma2017ARH/>{{rp|59}}

Fosun High Technology also once owned 23.45% of the [[Finance:Convertible bond|convertible bond]] (SSE:100196) of Fosun Pharma in 2003.<ref name=FosunPharma2003AR/>{{rp|6}}

{{as of|2017|12|31}}, co-founder of Fosun High Technology and now co-owner of the parent company of Fosun International, Guo Guangchang and Wang Qunbin, still served as non-executive directors of Fosun Pharmaceutical.<ref name=FosunPharma2017ARH/>{{rp|2}} {{as of|2019|7|31}}, the market capitalization of the H share of Fosun Pharma was [[Finance:Hong Kong dollar|HK$]]12,943,004,725.<ref>{{cite web|date=31 July 2019|title=List of H Share Companies|url=http://www.hkex.com.hk/Market-Data/Statistics/Consolidated-Reports/China-Dimension?sc_lang=en&tabName=Main%20Board|access-date=28 August 2019|publisher=Hong Kong Exchanges and Clearing Limited}}</ref>

==Footnotes==
{{reflist|group=nb}}

==References==
{{reflist}}

==External links==


[[Category:Vaccine producers]]

{{Sourceattribution|Fosun Pharma}}