Mr. Weidong Yin, Chairman, President and CEO, commented, "We are pleased to see another strong quarter with revenue growth of 54.5% year-over-year, which resulted in another profitable quarter on a sequential quarterly basis. With continued execution of the tailored sales strategy, Anflu sales was increased by 121% in this quarter compared to the same period of 2012, resulted from a solid support from operation. Leveraging the improved efficiency and expanded capacity of our fully operational Changping filling and packaging line, we delivered the majority of the flu vaccine that we produced at the beginning of the seasonal flu season."
Mr. Yin concluded, "Our vaccine development pipeline is continuing to advance on schedule. The China Food and Drug Administration ("CFDA") issued new guidance in late October 2013 enabling applicants to apply for Good Manufacturing Practice ("GMP") certification for its production facilities concurrently with the production site inspection during the New Drug Application ("NDA") review process, instead of waiting until after the new drug certificate is granted to commence the GMP certification process. Sinovac is poised to benefit from the agency's revised guidance, which may accelerate the entire registration process for vaccine candidates, including EV71 vaccine."
Financial Review for Third Quarter Ended September 30, 2013An analysis of sales and gross profit is as follows: $000 (Unaudited)2013Q3% of
total sales 2012Q3% of total salesHealive, Hepatitis A vaccine 5,252
34.5%Bilive, Hepatitis A&B vaccine5,355
38.9%Anflu, seasonal flu vaccine8,417
|SOURCE Sinovac Biotech Ltd.|
Copyright©2012 PR Newswire.
All rights reserved