Covid-19 Vaccine Developer Soars in Shanghai Market Debut

Shares of a Covid-19 vaccine developer nearly doubled after listing on Shanghai’s high-tech STAR market

Shares in China’s CanSino Biologics Inc., one of several companies racing to develop a Covid-19 vaccine, leapt on their first day of trading on a Nasdaq-style tech board in Shanghai.

A global scramble is under way to bring Covid-19 vaccines to market. CanSino is working closely with China’s military and is one of the country’s leading contenders, alongside state-owned China National Pharmaceutical Group Co., or Sinopharm, and a smaller private firm, Sinovac Biotech Ltd.

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