Hong Kong stocks fell from a three-week high, led by a retreat in property developers as concerns about debt defaults overshadowed Beijing's efforts to revive home sales and repair market confidence. Sinopharm Group slumped after becoming a benchmark index member. The Hang Seng Index slid 1.5 per cent to 18,559.92 at the local noon trading break, after rallying 2.5 per cent on Monday to the highest level since August 11. The Tech Index dropped 1.5 per cent while the Shanghai Composite Index decl
Sinopharm's president Liu Yong said during the signing event in Shanghai on Wednesday that the cooperation will involve accelerating the delivery of Pfizer's new drugs to patients, according to a statement from Pfizer.
Sinopharm said on Friday its biotech unit has received regulatory approval for clinical trials of its mRNA COVID-19 vaccine targeting the Omicron variant. The unit, based in the commercial hub of Shanghai, has built a research and development platform, as well as workshops with annual production capacity of 2 billion doses of mRNA vaccine, Sinopharm said. Sinopharm, now the China distributor of Merck & Co's COVID-19 antiviral treatment molnupiravir, said its biotech unit received clinical trial approval from the National Medical Products Administration.