(Yicai) Oct. 24 -- Shares of Walvax Biotechnology advanced after the Chinese vaccine developer said it had received the regulatory approval to market its 13-valent pneumococcal polysaccharide conjugate vaccine in Indonesia.

Walvax [SHE: 300142] closed 3.8 percent up at CNY22.70 (USD3.11) in Shenzhen today.

Indonesia’s Ministry of Health included Valenina, a pneumococcal vaccine that can prevent infants and children between six weeks to five years old from contracting 13 serotypes of Streptococcus pneumococci, in its national immunization program, the Yunnan province-based company said in a statement yesterday.

The Indonesian market needs 12 million doses of 13-valent pneumococcal polysaccharide conjugate vaccine every year for newborns, Walvax noted.

The company is actively involved with Indonesian partners to promote the localized production of Valenina, Walvax said, adding that Indonesia-made Valenina would be the main vaccine used in the national immunization program, according to the plan of the health ministry.

The vaccine is one of Walvax’s main products. It was approved for marketing in China in 2020 and now seizes a domestic market share of about 50 percent. Before Indonesia, the vaccine was approved for marketing in Bangladesh, Thailand, Morocco, and Egypt. Walvax is also promoting its localized production in Morocco and Egypt.

Editor: Futura Costaglione