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Sinovac Reports Unaudited First Quarter 2009 Financial Results
Date:5/15/2009

BEIJING, May 15 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (NYSE Amex: SVA), a leading developer and provider of vaccines in China has announced its unaudited financial results for the three-month period ended March 31, 2009.

    Recent Highlights
    -- In April 2009, Sinovac won the bidding to be the sole provider of
       approximately $12.8 million (2.41 million doses) worth of the
       inactivated hepatitis A vaccine, Healive, to China's Ministry of Public
       Health (MOH) for a vaccination campaign.

    -- Sinovac has initiated preparatory activities for production of a
       vaccine for the new influenza A (H1N1) strain. Sinovac is engaged in
       ongoing correspondence with international organizations and other
       governmental bodies regarding H1N1.

    -- In May 2009, Sinovac filed a registration dossier for a split pandemic
       influenza vaccine with the China state Food and Drug Administration
       (SFDA) to ensure children and juveniles are protected during an
       influenza pandemic.

Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We continue to leverage our R&D capabilities to fuel future growth. Our new R&D center is operating now, which will speed up our R&D process. Our objective for the next three to five years is to have one or two product candidates per year entering into clinical trials beginning in 2010 and one or two products launched into the market per year commencing in 2012. In addition to our organic growth strategy, with $23 million of cash and cash equivalents we have financial flexibility to selectively pursue acquisition candidates that will help to expand our product pipeline. Although we are experiencing the effects of the global financial crisis, we are confident that our balance sheet will support the strategic acqui
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SOURCE Sinovac Biotech Ltd.
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