BEIJING, Nov. 15 Sinovac Biotech Ltd. (Nasdaq: SVA), a leading developer and provider of vaccines, announced today that it was selected by the Shanghai Government to supply its inactivated hepatitis A vaccine, Healive, to the public market of Shanghai. Out of the five vaccine manufacturers that participated in the bidding process, the Shanghai Government awarded Sinovac the entire hepatitis A vaccine purchase order, valued at RMB 20.6 million, or approximately $3 million. Pursuant to the agreement, Sinovac will supply Healive over the next twelve months.
The purchase plan from the Shanghai Government reflects the continued expansion of government purchase programs for vaccines. This is part of the national expanded immunization program (EPI) funded by the Chinese government.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, "We are pleased that the Shanghai Government selected Sinovac as the sole manufacturer for this $3 million hepatitis A tender offer. Earlier this year, we established growth for Healive in both the public and private pay markets as a strategic goal. At that time, our newly completed filling and packaging plant had made us 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. We have done just that, securing large Healive purchase orders from the Shanghai government and China's Ministry of Public Health, even as we quickly adapted to develop and commercialize PANFLU.1, a time sensitive H1N1 vaccine. The selection confirms our ability to supply our high quality vaccines pursuant to the Government purchasing programs."
Sinovac 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 vaccine products include HealiveŽ (hepatitis A), BiliveŽ (combined hepatitis A and B), AnfluŽ (seasonal influenza), Panflu(TM) (pandemic influenza (H5N1)), and PANFLU.1(TM) (pandemic influenza A (H1N1)). Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, pneumococcal infection, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.
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This announcement 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.
Helen G. Yang Sinovac Biotech Ltd. Tel: +86-10-8289-0088 x9871 Fax: +86-10-6296-6910 Email: email@example.com Investors: Amy Glynn/Stephanie Carrington The Ruth Group Tel: +1-646-536-7023/7017 Email: firstname.lastname@example.org email@example.com Media Janine McCargo The Ruth Group Tel: 656-536-7033 Email: firstname.lastname@example.org
SOURCE Sinovac Biotech Co., Ltd.