(Yicai Global) Aug. 4 -- Wuxi Biologics surged as much as 5.3 percent today after the Chinese vaccine maker said it is partnering with AstraZeneca to produce the UK pharmaceutical giant’s Covid-19 preventive drug, that was green lit by Chinese authorities last month, for the China market.

Wuxi Biologics’ share price [HKG:2269] closed up 4.3 percent at HKD74.85 (USD9.54) today, giving it a market capitalization of HKD319.1 billion (USD40.7 billion). Earlier in the day it hit HKD75.60.

Wuxi Biologics, which boasts world-class biological agent production services, will ensure future supplies of Evusheld in China to benefit more people who have low immunity and are not suitable for vaccination, said Wang Lei, global executive vice-president and China president of Cambridge-based AstraZeneca.

China authorized the use of Evusheld, a neutralizing antibody cocktail that is effective for six months, by two hospitals in a medical tourism zone in the getaway island province of Hainan in early July. It is the first such antibody treatment to be imported into the country.

The drug, which has been clinically proven to reduce the risk of developing Covid-19 symptoms and is also effective against several omicron subtypes, including BA.4 and BA.5, was approved for sale in the US late last year and in Europe this March.

Ruijin Hainan Hospital and Boao Super Hospital in Hainan’s Boao Lecheng International Medical Tourism Pilot Zone have administered the drug to more than 100 people in the three weeks since July 9, Yicai Global reported earlier. A two-dose course costs CNY13,300 (USD1,985) and is not covered by the country’s medical insurance program.

A homegrown Covid-19 antibody therapy, developed by Beijing-based Brii Biosciences, also hit the China market last month for treatment of adults and adolescents aged between 12 and 17 with mild or moderate Covid-19 symptoms that could turn severe.

Editor: Kim Taylor