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

January of 2009. -- In an effort to enhance the competitiveness and improve efficiency of the sales force, Sinovac increased headcount and modified the marketing and sales organizational structure. -- Sinovac continues to focus on expanding its product export opportunities by moving forward on product registration outside of China. In late 2008, Sinovac entered into exclusive distribution agreements for Healive in Nepal and India, and for Anflu in the Philippines. The local distribution partners in Nepal and Philippines filed applications with local authorities in 2008. The registration process for Anflu in Mexico and Healive in Ukraine are progressing on schedule. Sinovac sold 11,000 doses of Healive to the Mongolian market in 2009 and is currently negotiating a long-term distribution agreement. -- In March 2009, Sinovac received GMP certification for its new filling and packaging production facility, increasing the Company's annual production capacity to 20 million doses, with the potential for 40 million doses -- In October 2008, the Company established a wholly-owned subsidiary, Sinovac Biotech (Hong Kong) Ltd, which is focused on registering and distributing commercialized vaccines and those under development in Hong Kong and then will be responsible for product exports. The subsidiary will also help to facilitate opportunities for R&D collaboration in Hong Kong. -- Sinovac has made progress in completing 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 for Euvax-B in China in 2009.

Mr. Weidong Yin, Chairman, President and CEO, c
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SOURCE Sinovac Biotech Ltd.
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