BEIJING, Jan. 26 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE Alternext US: SVA), a leading provider of vaccines in China, today announced its wholly owned subsidiary, Tangshan Yian Biological Engineering Co., Ltd, has obtained approval from China's Ministry of Agriculture to conduct field trials of its internally developed inactivated animal rabies vaccine with independent intellectual property rights. With this product, Tangshan Yian will enter the veterinary vaccine market in China by developing a domestically-produced inactivated rabies vaccine.
Tangshan Yian is well positioned to supply high quality vaccines to the Chinese animal vaccine market and potentially to the global market by leveraging its advanced technology, vaccine research and development expertise in developing human vaccines, standardized management and market-oriented products strategy. The wholly owned subsidiary has been responsible for conducting research and pilot-production for Sinovac's vaccines. With the addition of full production capabilities, it is expected that Tangshan Yian will generate incremental sales revenue.
The inactivated animal rabies vaccine is the first among a number of products to reach field trials in Tangshan Yian's animal health pipeline. The Company anticipates that the field trials for the inactivated animal rabies vaccine will take approximately nine months to complete and that the vaccine will be launched in China's veterinary market in 2010.
Mr. Weidong Yin, Chairman, President and CEO, commented, "This move is in
line with Sinovac's corporate development strategy to combine world class
technology and manufacturing with unparalleled expertise in servicing the
Chinese market. Our rabies vaccine is one of the first inactivated versions to
be developed domestically in China. It is expected that the inactivate rabies
vaccine will be manufactured in China, which should afford us a competiti
|SOURCE Sinovac Biotech Ltd.|
Copyright©2009 PR Newswire.
All rights reserved