- Fosun International was awarded "Best Corporate Social Responsibility", "Best Corporate Communications Team", and "Best Investor Relations Team" by Corporate Governance Asia.
- Release Time: Nov 25, 2020
On November 25, Fosun International won the "Best Corporate Social Responsibility", "Best Corporate Communications Team", and "Best Investor Relations Team" in the Asian Excellence Awards organized by Corporate Governance Asia. The theme of the awarding ceremony of Corporate Governance Asia is: Communicating through the fog of uncertainty - The story of Asian corporation response during the pandemic.
Awards for enterprises that made great contributions to the response to the COVID-19 pandemic
Corporate Governance Asia is an influential professional magazine focusing on corporate governance in the Asia-Pacific region. The Asian Excellence Awards are designed to recognize and commend those companies which have outstanding financial performance, corporate ethics, investor relations, corporate communication, corporate social responsibility, and environmental protection. Corporate Governance Asia stated that since the beginning of 2020, COVID-19 has taken a toll on global companies. However, during the pandemic, many enterprises with strong agility and resilience managed to minimize the impact. Some of them actively responded to the challenges caused by the pandemic, provided full support in response to the pandemic, faced the difficulties with all sectors of society, and shouldered strong social responsibility to accomplish their mission.
Corporate Governance Asia pointed out that Fosun International is one of the enterprises that made outstanding contributions in response to COVID-19. By virtue of its global rescue efforts and active cooperation with Germany-based BioNTech to develop a new type of mRNA vaccine that highlights China's research capabilities and global collaboration, Fosun International was awarded the "Best Corporate Social Responsibility", "Best Corporate Communications Team", and "Best Investor Relations Team". According to Corporate Governance Asia, the awards were to commend Fosun for making positive contributions to the global effort in response to COVID-19. By leveraging its global resources, the company urgently dispatched protective equipment to help bring the spread of COVID-19 under control in other countries. Meanwhile, by allocating its big health resources, the company also took the lead in jointly developing a COVID-19 vaccine with German BioNTech and made effective and substantial contributions for the response.
Active wartime response
Distribution of protective equipment across the world
To control the spread of COVID-19, Fosun timely activated the wartime response, strengthened its organizing skills, and voluntarily shouldered its corporate social responsibility. Since the outbreak of COVID-19 on January 24, Fosun has set up a working group to distribute medical supplies worldwide. They also mobilized global resources immediately, urgently collected 2.963 million articles of medical protective materials and timely delivered them to the medical workers on the front line, mainly in Hubei province. Fosun established a resource allocation network that covered 23 countries and rapidly coordinated the global supply chain to send medical supplies to the domestic and foreign front lines of pandemic rescue. By the end of August, Fosun had provided medical supplies to nearly 20 countries in response to the pandemic and distributed a total more than 50 million articles of supplies.
As a company involving with multiple industry sectors, Fosun leveraged its professional expertise to support pandemic prevention. For example, 27 hospitals owned by Fosun, including Wuhan Jihe hospital, became designated hospitals for treating COVID-19 cases, and their medical staff worked around the clock on the front lines. Foshan Chancheng Central Hospital introduced online free clinic services while treating COVID-19 patients. Breas (Shanghai) Medical Technology, a subsidiary of Fosun Pharma, and Beijing North Bell Special Purpose Vehicle Co., Ltd. also developed, produced, and donated a large number of non-invasive ventilators, negative pressure ambulances, and other emergency equipment to support front-line work and provide assistance for pandemic prevention and control.
The company effectively supported global pandemic prevention and control efforts by leveraging its own technologies and products for medical attendance, nucleic acid test reagents, negative pressure ambulances, ventilators, and more.
Fosun cooperated with German biotechnology firm BioNTech to jointly develop
the COVID-19 vaccine that highlights China's research capabilities and global collaboration
With its expertise in the health industry and strong innovation capability, Fosun was able to accelerate the development of COVID-19 vaccines. On March 15, Fosun Pharma announced that its holding subsidiary Shanghai Fosun Pharmaceutical Development Co., Ltd. was authorized by BioNTech for the exclusive production and selling of the COVID-19 vaccine in China based on its proprietary mRNA technology. According to the agreement, Fosun Pharma shall be responsible for the clinical trials, marketing application, and marketing and sales of the vaccine in China's mainland, Hong Kong, Macao, and Taiwan and will cover the relevant costs and expenses. BioNTech will provide the technical information and pre-clinical research data required for regional clinical trial application, help regional clinical trials, and supply the products required for relevant clinical trials and marketing and sales.
Thanks to the hard work put together by Fosun Pharma, the clinical trials of BNT162b1 and BNT162b2 in China are advancing smoothly. In China, BNT162b2 was approved for clinical trials by the National Medical Products Administration on November 13. It should carry out phase II clinical trials of the vaccine in China when the conditions are met.
As a preventive biological product, the BNT162b2 vaccine is designed for the prevention of COVID-19. The BNT162b2 vaccine is currently in phase III clinical trials in the United States, Germany, Argentina, Brazil, South Africa, and Turkey and has been approved by the FDA (US Food and Drug Administration).
mRNA (messenger RNA) is a small nucleic acid fragment carrying genetic information. It provides instructions for human cells to produce target protein, namely antigen, in order to activate a human immune response to the corresponding virus. When compared with traditional vaccines, mRNA vaccines have four distinct advantages: 1. They have no viral components or infection risk; 2. Rapid development of new candidate vaccines is possible; 3. They have dual mechanisms: humoral immunity and T cell immunity, with high immunogenicity; 4. They are easy to mass produce and support global supply.
According to the market news, BioNTech and Pfizer announced their final efficacy analysis of the phase III clinical study on November 18, indicating that BNT162b2, a new mRNA COVID-19 vaccine, met all the main efficacy endpoints in the clinical trial. Data showed that BNT162b2 is 95% effective in preventing COVID-19 infection without serious side effects.