Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "As we indicated in early April, the demand for the vaccinations in the private pay market across China was unfortunately impacted by the product safety media reports that the SFDA subsequently determined to be unfounded. As a leading supplier of hepatitis A and seasonal influenza vaccines to the private pay and public markets, our first quarter 2010 sales were impacted by the reduced industry demand. Our domestic sales and marketing strategy is being augmented to reflect the current landscape. We are expanding our geographic reach by focusing on the rural markets and are providing physician education programs to drive growth in the private pay market. We continue to collaborate with our local distribution partners to obtain requisite approvals in targeted international markets, including India, Mexico and the Philippines."
Mr. Yin continued, "Given our long term expectations for increasing demand
for our vaccines products, initiatives are underway to bring on additional
capacity that will enable us to both expand production of our commercialized
vaccines and commence production of our pipeline vaccines in a condensed
timeframe upon receipt of production licenses. At our 300,000 square foot
production facility in the Changping District, Beijing, we are targeting
completion of the build-out of two new production lines in the second half of
2010. These new production lines will have a combined annual capacity of
approximately 40 million doses and will be utilized to manufacture our
currently marketed flu vaccines and our pipeline EV71 vaccine. At Sinovac
Dalian's 200,000 square foot production f
|SOURCE Sinovac Biotech Ltd.|
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