China set to approve BioNTech vaccine before July

April 21, 2021

China is on track to approve its first foreign COVID-19 vaccine -- from BioNTech (NASDAQ:BNTX) -- within the next 10 weeks, The Wall Street Journal reports.

In December, BioNTech reached an agreement with Shanghai Fosun Pharmaceutical (OTCPK:SFOSF) to supply 100M doses to China this year.

The newspaper reports that China is motivated to approve the BioNTech vaccine because of the February 2022 Winter Olympics scheduled to take place in Beijing.

The country has approved four domestic vaccines and one other under emergency use.

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