Full Press Release Details
Amends Shareholder Rights Plan
BEIJING, February 22,
2021 /PRNewswire/ -- Sinovac Biotech Ltd. ("Sinovac" or the "Company") (NASDAQ: SVA), a leading
provider of biopharmaceutical products in China, today announced that its board of directors has amended its shareholder
rights plan. The amendment extends the expiration date of the plan from February 22, 2021 to February 22, 2022.
Sinovac Biotech Ltd. is a China-based biopharmaceutical company
that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious
diseases. Sinovac's product portfolio includes vaccines against enterovirus71 (EV71), hepatitis A and B, seasonal influenza, 23-Valent
Pneumococcal Polysaccharide ("PPV"), H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella vaccine
and mumps. Healive, the hepatitis A vaccine manufactured by the Company, has passed the assessment under WHO prequalification procedures
in 2017. The EV71 vaccine, an innovative vaccine developed by Sinovac against hand foot and mouth disease caused by EV71, was commercialized
in China in 2016. In 2009, Sinovac was the first company worldwide to receive approval for its H1N1 influenza vaccine, which it
has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of
the H5N1 pandemic influenza vaccine to the government stockpiling program. The Company is developing a number of new products including
COVID-19 vaccine, CoronaVac, a Sabin-strain inactivated polio vaccine and combined vaccines. Sinovac primarily sells its vaccines
in China, while also exploring growth opportunities in international markets. The Company is seeking market authorization of its
products in over 30 countries outside of China. For more information please see the Company's website at www.sinovac.com.
Safe Harbor Statement
This announcement may include certain statements that are not
descriptions of historical facts, but are forward-looking statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future," "intends,"
"plans," "believes," "estimates" and similar statements. Forward-looking statements involve
risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements.
In particular, the outcome of any litigation is uncertain, and the Company cannot predict the potential results of the litigation
it filed or filed against it by others. Additionally, the triggering of a shareholder rights plan is nearly unprecedented, and
the Company cannot predict the impact on the Company or its stock price as a result of the trigger of the rights plan.
Sinovac Biotech Ltd.
Tel: +86-10-8279-9871
Fax: +86-10-6296-6910
Bill Zima +1-646-308-1707