China announced Thursday that it has approved the first vaccine for market use in the country.
The country’s Medicines Administration has officially granted “conditional marketing authorization” for the state-owned Sinopharm vaccine, CGTN News reported.
The Beijing-based pharmaceutical company said on Wednesday that its two-dose inactivated vaccine is nearly 80% effective and is seeking market approval from authorities.
Sinopharm shares jumped at least 7% after the announcement.
It is the first vaccine to gain approval for market deployment in the country.
The vaccine was developed by China National Biotech Group, a subsidiary of the state-owned Sinopharm.
The vaccine has an efficacy of 79.34% and a positive conversion rate of about 99.52% to antibodies, the Beijing Biologics Institute said in a statement.
He added that interim results from phase 3 clinical trials, which are underway in a number of countries, of his inactivated vaccine have shown that “the vaccine can trigger high titer anti-coronavirus antibodies after two injections.”
Earlier this month, the United Arab Emirates officially approved Sinopharm’s investigational vaccine, claiming it was 86% effective.
The Anadolu Agency website contains only a portion of the stories available to subscribers of the AA News Broadcasting System (HAS), and in summary form. Please contact us for subscription options.