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BioNTech share sags after Moderna announcement: BioNTech is making progress in developing corona vaccine in China

The biotech company BioNTech is also driving the development of its corona vaccine in China.

© Provided by Finanz.net MIKE CLARKE / AFP / Getty Images

BioNTech and its Chinese partner Fosun Pharma received the green light for the start of a phase 2 clinical phase with the vaccine in mainland China, the two companies announced on Monday. In the USA, Germany, Argentina, Brazil, South Africa, Turkey and other countries, the vaccine is already in the third and therefore crucial clinical trial phase.

Last week BioNTech and its US partner Pfizer announced that the vaccine offers more than 90 percent protection against COVID-19. The duo wants to apply for an emergency permit in the USA in November. Fosun had signed a license agreement with BioNTech to develop and market the German company's coronavirus vaccines in China, Hong Kong, Macau and Taiwan.

Video: Biontech and Pfizer report 90 percent effectiveness of corona vaccine (glomex)

BioNTech under pressure - Moderna vaccine also highly effective

In the race for the best and fastest vaccine, BioNTech investors will get a damper on Monday. Just like the Mainz-based company a week ago, the US competitor Moderna has now also presented promising study data showing that the vaccine candidate is highly effective. BioNTech put the effectiveness of its substance at more than 90 percent last Monday. Moderna said that the vaccine developed by the US company showed an effectiveness of 94.5 percent.

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In addition, it became known that the European Medicines Agency Ema is starting a so-called rolling review process for the Moderna vaccine, which aims to achieve comparatively quick approval. According to its own information, the EU Commission is currently negotiating with the US company for the delivery of up to 160 million vaccine doses. A contract has not yet been concluded.

BioNTech stocks, which are primarily listed on NASDAQ in the USA, ultimately fell there by 13.70 percent to $ 91.52. Also in the running is the Tübingen-based company CureVac, whose shares rose sharply on Monday. Moderna shares are meanwhile soaring in NASDAQ trading. (Reuters / dpa-AFX)