BEIJING, Nov. 3 Sinovac Biotech Ltd. (NYSE Amex: SVA),a leading developer and provider of vaccines in China, announced today that itwill voluntarily transfer its stock exchange listing from the NYSE Amex to theNASDAQ Global Market.
It is anticipated that Sinovac's common shares will commence trading onNASDAQ on or about November 16, 2009. Sinovac will continue to trade under theticker symbol "SVA."
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, stated, "Thetransfer of our stock listing to NASDAQ demonstrates our continued focus oncreating shareholder value. We appreciate the support that the NYSE Amex hasprovided over the years. However, we believe a NASDAQ listing will provideSinovac with opportunities to increase investor and analyst interest andprovide our investors with a better environment for trading our shares. Inaddition, as NASDAQ is globally recognized as a leading exchange forbiopharmaceutical companies, we believe a NASDAQ listing will also place us inthe same marketplace as our peers."
"NASDAQ is the home of innovative biotech and healthcare companies and weare proud to welcome Sinovac, a pioneer in Chinese biotech and engineer ofChina's homegrown H1N1 vaccine," said Mr. Bob McCooey, Senior Vice Presidentand Head of Global Listing of NASDAQ OMX Group.
Sinovac Biotech Ltd. is a China-based biopharmaceutical company thatfocuses on the research, development, manufacture and commercialization ofvaccines that protect against human infectious diseases. Sinovac's vaccineproducts, including Healive(R) (hepatitis A), Bilive(R) (combined hepatitis Aand B), Anflu(R) (influenza), Panflu(TM), Sinovac's pandemic influenza vaccine(H5N1), and PANFLU.1(TM), Sinovac's H1N1 vaccine, have already been approvedfor government stockpiling. Sinovac is developing vaccines for enterovirus 71,universal pandemic influenza, Japanese encephalitis, and human rabies. Itswholly owned subsidiary, Tangshan Yian, is conducting field trials forindependently developed inactivated animal rabies vaccines.
Safe Harbor Statement
This announcement contains forward-looking statements. These statementsare made under the "safe harbor" provisions of the U.S. Private SecuritiesLitigation Reform Act of 1995. These forward-looking statements can beidentified 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 inthis press release contain forward-looking statements. Statements that are nothistorical facts, including statements about Sinovac's beliefs andexpectations, are forward-looking statements. Forward-looking statementsinvolve inherent risks and uncertainties. A number of important factors couldcause actual results to differ materially from those contained in anyforward-looking statement. Sinovac does not undertake any obligation to updateany forward-looking statement, except as required under applicable law.For more information, please contact: Helen G. Yang Sinovac Biotech Ltd. Tel: +86-10-8289-0088 x9871 Fax: +86-10-6296-6910 Email: firstname.lastname@example.org Investors: Amy Glynn/Stephanie Carrington The Ruth Group Tel: +1-646-536-7023/7017 Email: email@example.com firstname.lastname@example.org Media: Janine McCargo The Ruth Group Tel: +1-646-536-7033 Email: email@example.com
SOURCE Sinovac Biotech Ltd.