(Yicai Global) May 17 -- WuXi Biologics said the Chinese biotech firm will produce German biopharmaceutical company InflaRx’s Covid-19 medicine.

WuXi Biologics signed a manufacturing deal with InflaRx for the production of Gohibic, the Jiangsu province-based firm announced late yesterday without revealing any further details.

Last month, the United States Food and Drug Administration issued an emergency use authorization of Gohibic with critically ill and hospitalized adults who meet certain conditions.

WuXi Biologics provides end-to-end solutions for the discovery, development, and production of medicines. Over the past few years, it has made over 3,000 kilograms of products for Covid-19 antibody drug developers and hundreds of millions of doses of coronavirus vaccines, which have contributed to its outstanding earnings.

Covid-19 projects have enhanced WuXi Biologics’ global visibility and helped its share of the global outsourcing market for biopharm research and development services climb to 12.8 percent last year from 5.1 percent in 2019, Chief Executive Chen Zhisheng told Yicai Global on its annual earnings call in March.

“As the pandemic gradually subsides, the revenue of WuXi Biologics’ Covid-19 projects is expected to decline this year, and its share of the firm’s total revenue will likely drop to under 5 percent,” Chen said.

WuXi Biologics also announced today that its co-founder Zhao Ning passed away yesterday after a 20-year fight against cancer. Zhao had a non-executive director’s position with the company.

Shares of WuXi Biologics [HKG: 2269] closed 4 percent lower at HKD44.85 (USD5.73) today. The benchmark Hang Seng Index lost 2.1 percent.

Editors: Tang Shihua, Futura Costaglione