Inhaled COVID-19 Vaccine Approved in China as Profits of Vaccine Giant Plummet

China’s State Drug Administration granted approval of an inhaled COVID-19 vaccine for emergency use as a booster vaccine last week.

Vaccine manufacturer CanSino Biologics made the announcement on Sept. 4, saying it had developed and obtained approval for an inhalable COVID-19 vaccine after a proposal by China’s National Health Commission. The vaccine, called  Convidecia, uses a recombinant adenovirus that is unable to replicate.

A week prior to the announcement about the inhaled vaccine, the company reported a 98.69 percent drop in net profits for the first half of the year.

CanSino Biologics was founded in 2009 for vaccine development and production and is currently the leading manufacturer of COVID-19 vaccines in China, with a market value of nearly $5.74 billion. On Aug. 28, CanSino Biologics, announced that its revenues for the first half of 2022 was $90 million, down 69.45 percent from the same period last year, and its net profit was $1.75 million, down 98.69 percent from the same period last year.

The declining profits were mainly caused by the reduced demand for COVID-19 vaccines and lower vaccine prices worldwide.

According to the latest epidemiological data, more than 90 percent of COVID cases are now caused by the BA.4 and BA.5 Omicron variants, and the continued use of vaccines against the original COVID-19 strains has reduced effectiveness.

Chinese Citizenry Growing Weary

Chinese citizens have become increasingly weary and upset with the ongoing mandatory COVID testing and the lockdown of entire cities.

An elderly man from Shanghai, who spoke to the Epoch Times on the condition of anonymity, expressed his frustration with the government’s COVID policy and the hardships it is causing people.

“Nearly everyone was vaccinated last year, and without the vaccinations, people were not allowed to visit banks, take buses, enter shopping malls, and so on. Everyone thought that they would be safe after receiving the jab, but after the first and second jabs, a third booster jab was required. The virus mutated so fast that the vaccines simply couldn’t keep up. Now people understand that we have become test subjects for the vaccine manufacturers, and the officials now tell us that the vaccine does not prevent us from infections but only reduces the risk of severe symptoms. Lately, people have grown weary of the daily COVID-19 nucleic [acid] tests.”

The man also expressed the opinion that the new vaccine was likely approved to boost the manufacturer’s profits, “And right after reports were saying that the vaccine manufacturers lost over 90 percent of their revenue, the government decided to grant approval for a new vaccine.”

He also said he believes the pandemic rules are a way for the authorities to further control people. “As the 20th National Congress of the CCP approaches, the government is trying to monitor all citizens and to achieve social stability via strict pandemic rules,” he said.