/C O R R E C T I O N -- Sinovac Biotech Ltd.
Press Release Source: Sinovac Biotech Ltd. On Wednesday January 13, 2010, 9:55 pm EST
In the news release, "Sinovac Obtains Fifth H1N1 Vaccine Order from Chinese Central Government," issued earlier today by Sinovac Biotech Ltd. over PR Newswire, we are advised by the company that the first sentence of the second paragraph should read," In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 21.06 million doses, and 10.23 million doses of PANFLU.1 have been delivered to date for the Chinese vaccination campaign," rather than, "In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 20.05 million doses, and 10.23 million doses of PANFLU.1 have been delivered to date for the Chinese vaccination campaign," as originally issued inadvertently. The complete, corrected release follows.
Sinovac Obtains Fifth H1N1 Vaccine Order from Chinese Central Government
BEIJING, Jan. 13 /PRNewswire-Asia/ -- Sinovac Biotech Ltd. (Nasdaq: SVA), a leading provider of biopharmaceutical products in China, announced today that it has received its fifth purchase order for its H1N1 vaccine, PANFLU.1(TM), from China's Ministry of Industry and Information Technology for the national purchase plan. Under this purchase order, Sinovac is required to deliver an additional 8.57 million doses of PANFLU.1(TM) (15ug/0.5ml) to the Chinese Central Government, of which 2.33 million doses are expected to be delivered before March 15, 2010, and the balance of 6.23 million doses to be stockpiled by the government in Sinovac's warehouse facility.
In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 21.06 million doses, and 10.23 million doses of PANFLU.1 have been delivered to date for the Chinese vaccination campaign. In 2009, the Company completed the expansion of its production line used to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 60%.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "This fifth order from the Chinese Central Government demonstrates Sinovac's continuing ability to complete its national H1N1 vaccine stockpiling tasks in a timely manner. The production capacity expansion has continued to serve its purpose in positioning Sinovac to operate even more efficiently towards our goal of providing citizens of China with affordable, international-quality vaccines."
Sinovac Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacture and commercialization of vaccines that protect against human infectious diseases. Sinovac's vaccine products include Healive(R) (hepatitis A), Bilive(R) (combined hepatitis A and B), and Anflu(R) (influenza). Panflu(R) and PANFLU.1(TM), Sinovac's pandemic influenza vaccine (H5N1) and H1N1 vaccine, have already been approved for government stockpiling. Sinovac is developing vaccines for enterovirus 71, universal pandemic influenza, Japanese encephalitis, and human rabies. Its wholly owned subsidiary, Tangshan Yian, is conducting field trials for independently developed inactivated animal
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. Statements that are not historical facts, including statements about Sinovac's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward- looking statement. Sinovac does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
For more information, please contact:
Helen G. Yang
Sinovac Biotech Ltd.
Tel: +86-10-8289-0088 x9871
Amy Glynn/Stephanie Carrington
The Ruth Group
The Ruth Group