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Sinovac Reports Unaudited Full Year 2008 and Fourth Quarter Financial Results
Date:4/9/2009

ngs from the pre-clinical studies for the EV 71 vaccine were recently presented at the Chinese New Vaccines Reporting Conference. Sinovac is on track to file a clinical trial application with China SFDA in the third quarter of 2009. The Company holds the development rights to this first-of-its-kind vaccine and intends to submit the patent application for this vaccine in China in 2009. According to the March 27, 2009 report issued by China's Ministry of Public Health, there were 41846 cases of hand, foot, and mouth disease were reported in China from January 1, 2009 through mid-day on March 26, 2009, among which 94 of which were severe cases. The reported cases are mainly from young children under 5 years old (93.96% of total reported cases). Among the confirmed cased after testing in laboratory, 75% of the cases are caused by EV71. Additionally, hand, food and mouth disease incidence has been reported in both developed countries and developing countries in the past, indicating that it is a worldwide disease. Given the current severity of the hand, foot and mouth disease outbreak in China and other countries, Sinovac expects this new vaccine to become another flagship product in the future.

Sinovac is processing the clinical application to import and commercialize LG Life Sciences' hepatitis B vaccine, Euvax-B(TM), pursuant to the previously disclosed exclusive distribution agreement. Sinovac expects to obtain approval from the SFDA to conduct clinical trials in China in 2009 and intends leverage its established sales and marketing organization to distribute Euvax- B in China.

2009 Guidance

For the full year 2009, the Company expects sales of $55 million to $60 million, an increase of about 20% over 2008 sales. The 2009 sales growth rate assumes that (1) Healive will continue to generate a significant portion of Sinovac's sales revenue. Sinovac expects to maintain its leading position in the pr
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SOURCE Sinovac Biotech Ltd.
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