Hong Kong-listed Sinopharm reports jump in 2020 profit, says ready to deliver Covid-19 jabs as China targets 500 million shots by June
- Hong Kong-listed unit of state-owned China National Pharmaceutical Group reveals 13.9 per cent jump in profit for 2020
- Company has been preparing to distribute Covid-19 vaccines for a while: president
Sinopharm Holding was ready to deliver the Covid-19 vaccines needed to meet Beijing’s target of more than 500 million vaccinations by June this year, its president said.
“As the country’s top company in operating cold-chain logistics for pharmaceutical products, we have been making preparations to distribute the [Covid-19] vaccines for a while,” Liu Yong said. He said the company was “unable to tell exactly how much our performance can improve by handling the [logistics involved], but it is certain to give us a huge boost”.
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China pushes mass vaccinations to build herd immunity against Covid-19
Beijing is targeting vaccinating 40 per cent of its population – or more than 500 million people – by June. But since it had vaccinated just 65 million people as of mid-March, it will need to give four million shots a day to meet its goal.
Sinopharm conducted a Covid-19 vaccine delivery dry run in December last year to ensure its cold-chain logistics system was safe and efficient. The drill covered all its systems in 31 provinces, autonomous regions and municipalities.
The company was looking to consolidate its leading position through the distribution of medicines and vaccines, as the pandemic had increased people’s awareness about health, said Yu Qingming, Sinopharm’s chairman. He added that the company would use more digital technology to enhance its delivery efficiency.
