Full Press Release Details
Receives RMB 87 Million Purchase Order for Healive from China's Ministry of
Tuesday April 28, 2009, 8:00 am EDT
April 28 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE Amex: SVA), a leading
developer and provider of vaccines in China, today announced that the Company
has received a purchase order for approximately RMB 87 million, or $12.8
million, of its inactivated hepatitis A vaccine, Healive , from China's Ministry
of Public Health (MOH). The MOH's order is supported by Sinovac's newly
completed filling and packaging plant that has increased Sinovac's annual
capacity to 20 million doses. Sinovac is currently the sole provider of the
hepatitis A vaccine to the MOH for this tender.
the government's larger scale efforts to improve public health, the hepatitis A
vaccination campaign will cover young children from 18 months to 12 years old in
32 cities or counties in nine provinces and is intended to expand the
vaccination coverage of hepatitis A throughout China. Healive is widely
recognized as a safe and high-quality vaccine against the hepatitis A virus. In
2008, Sinovac collaborated with the MOH to supply its hepatitis A vaccine to
people living in the disaster area following the major earthquake that occurred
in Sichuan province.
Weidong Yin, Chairman, President and CEO, commented, "We are very pleased to
have established a public market for our inactivated hepatitis A vaccine,
Healive, through this supply agreement with the MOH, as we are focusing our
efforts in 2009 on both the public and private pay markets. We believe this is a
good beginning when we start developing public market for Healive. Sinovac
continues to develop and commercialize a variety of vaccines in order to fulfill
our mission to eliminate infectious disease. With an annual capacity of 20
million doses at our newly completed filling and packaging plant, we are well
positioned to fulfill existing orders, increase our production scale for meeting
the demand from both public market and private market and develop new vaccines.
Although we are experiencing the global financial crisis, the medical reform
provides positive supports to the health care industry in China. We will keep
executing our corporate strategy, and leverage the opportunities that we are
facing to grow our business."
Biotech Ltd. is a China-based biopharmaceutical company that focuses on the
research, development, manufacture and commercialization of vaccines that
protect against human infectious diseases. Sinovac's commercialized vaccines
include Healive (hepatitis A), Bilive (combined hepatitis A and B), Anflu
(influenza) and Panflu(TM) (H5N1). Sinovac is currently developing a universal
pandemic influenza vaccine and Japanese encephalitis vaccine. Its wholly-owned
subsidiary, Tangshan Yian is currently conducting field trials for the first
domestically-developed inactivated animal rabies vaccines. Additional
information about Sinovac is available on its website, http://www.sinovac.com
. To be added to our distribution list, please email: info@sinovac.com.
contains 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 words or phrases
such as "will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things, the business
outlook and quotations from management in this press release contain
forward-looking statements. Statements that are not historical facts, including
statements about Sinovac's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and uncertainties.
A number of important factors could cause actual results to differ materially
from those contained in any forward- looking statement. Sinovac does not
undertake any obligation to update any forward-looking statement, except as
required under applicable law.
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