Full Press Release Details
SINOVAC BIOTECH LTD. 6K, PRESS RELEASE, 12.21.04
SINOVAC BIOTECH LTD.
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ENTERS INTO FINANCIAL ADVISORY AGREEMENT
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WITH CREDIT SUISSE ADVISORY PARTNERS A.G.
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BEIJING, December 21, 2004 - Sinovac Biotech Ltd. ("Sinovac") ("the Company")
(AMEX: SVA) is pleased to announce that it has entered into a Financial Advisory
Agreement with Credit Suisse Advisory Partners AG, a 100%-owned subsidiary of
Credit Suisse Group headquartered in Zurich, Switzerland, whereby Credit Suisse
Advisory Partners will act as the Company's exclusive financial advisor. Credit
Suisse Group is a leading global financial services company.
About Sinovac Biotech Ltd.
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Sinovac Biotech Ltd. specializes in the research, development,
commercialization, and sales of human vaccines for infectious illnesses such as
hepatitis A and hepatitis B, influenza, "SARS", and avian flu. Sinovac is one of
the leading emerging biotechnology companies in China.
Sinovac has three vaccines that have completed all three phases of clinical
trials - Hepatitis A, Hepatitis A&B combined, and influenza (flu). The Hepatitis
A vaccine, Healive(TM), is currently experiencing strong sales growth in China
and applications have been filed for its sale in nine other countries to date.
Sinovac's Hepatitis A&B combined vaccine, Bilive(TM), is expected to receive
approval to commence sales in China soon and to achieve similar sales growth to
Healive(TM). The flu vaccine completed clinical trials in April 2004 and a New
Drug Application has been filed with the SFDA (Chinese FDA). Approval of
Sinovac's flu vaccine is expected in 2005 upon completion of the flu vaccine
production line. Since demand for a safe and effective flu vaccine in China
greatly outstrips supply, sales are expected to escalate rapidly. Furthermore,
since individuals are vaccinated against the flu on an annual basis, demand will
remain high every year.
Sinovac is currently the only company in the world to be conducting clinical
trials for a vaccine to prevent SARS. The Company is also developing a vaccine
targeting avian flu in partnership with the China Center of Disease Control
For further information please refer to the Company's filings with the SEC on
EDGAR or refer to Sinovac's website at www.sinovac.com.
If you would like to receive regular updates on Sinovac please send your email
request to info@sinovac.com.
Contact: Investor Relations at (888) 888-8312 or 1 604 684-5990 from outside of
North America or info@sinovac.com
THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF
SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION
21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH
RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT
INTERESTS, SINOVAC'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND
DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE
STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND
UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE
IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.