BEIJING, Oct. 27 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE: SVA), a leading provider of biopharmaceutical products in China, announced today that it has received its third purchase order for its H1N1 vaccine, PANFLU.1, from China's Ministry of Industry and Information Technology for the national stockpiling plan. Under this purchase order, Sinovac is required to produce an additional 5.19 million doses of PANFLU.1 (15ug/0.5ml) for the Chinese central government. Out of today's announced PANFLU.1 order, Sinovac is required to complete delivery of 2.89 million doses to the appointed provincial and municipal governments by the end of this year and supply the remaining 2.3 million doses for the central government stockpiling.
The latest 5.19 million dose purchase order is in addition to an initial order for 3.3 million doses and second order for 3 million doses received by Sinovac from the Ministry of Industry and Information Technology of China on September 4, 2009 and September 30, 2009, respectively, for a total of 11.49 million doses.
Separately, Sinovac also announced today that it competed and successfully won the bidding process to supply its seasonal flu vaccine, Anflu, to the Shanghai government. This marks Sinovac's entry into a new public market for its seasonal flu vaccine. The purchase plan from the Shanghai government reflects an expansion of government purchase programs for the seasonal flu vaccine. As part of the beneficial policies for citizens of Shanghai, certain Shanghai citizens will receive inoculation against influenza for free or with certain allowances.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We are very proud to be supplying our H1N1 vaccine to the Chinese government and are confident that we can complete the national H1N1 vaccine stockpiling task in a timely manner. We continue to work towards our goal of providing citizens of China with affordable, international-quality vaccines. The agreement with the Shanghai Municipal Center for Disease Control and Prevention brings us closer to our goal as it opened up another important public market in China."
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 vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1, Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal rabies vaccines.
Safe Harbor Statement
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.
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SOURCE Sinovac Biotech Ltd.
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