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Sinovac Announces Preliminary Unaudited Third Quarter 2010 Sales Range and Revises Full Year 2010 Sales Expectations
Date:10/24/2010

BEIJING, Oct. 24 /PRNewswire-Asia-FirstCall/ -- Sinovac Biotech Ltd. (Nasdaq: SVA), a leading provider of biopharmaceutical products in China, announced today its preliminary unaudited sales range for the third quarter ended September 30, 2010 and revised sales guidance for full year 2010. A conference call to discuss these preliminary results and revised sales guidance will be held on October 25, 2010 at 8:00 a.m. Eastern Time (October 25, 2010 at 8:00 pm China Standard Time). The Company will issue its final unaudited 2010 third quarter and nine months financial results on or about November 15, 2010.

Sinovac expects its third quarter 2010 sales to be in the range of approximately $9 million to $10 million. The Company revises its total 2010 sales expectations to be in the range of approximately $40 million to $45 million compared to previous expectations in the range of $60 million to $67 million. The Company has provided this revised outlook based on the following factors:

  1. The vaccine market in China is experiencing a much longer than originally expected demand weakness in the market following the unfounded media reports about vaccine safety in China's Shanxi province.
  2. A large-scale measles vaccination campaign was conducted in September 2010 that delayed administration of routine vaccinations, including the seasonal influenza vaccine. The campaign concluded in September 2010.

Sinovac vaccine product portfolio is comprised of five commercialized products and a number of pipeline products. The Company is advancing the development of its portfolio and pursuing opportunities to add products. Currently the R&D process for our pipeline products is progressing well on schedule.

Dr. Weidong Yin, Chairman, President and CEO of Sinovac, stated, "We are well positioned to leverage our competitive strengths as w
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SOURCE Sinovac Biotech Ltd.
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