Sinovac Files Registration Documents for Euvax-B(TM) with SFDA Loan Repayment Received from One Former Director
Thursday February 8, 8:00 am ET
BEIJING, Feb. 8 /Xinhua-PRNewswire/ -- Sinovac Biotech Ltd. (Amex:
SVA -
News), a leading provider of biopharmaceutical products in China, today announced it has filed registration documents with the China State Food and Drug Administration for LG Life Sciences (LGLS) hepatitis B vaccine, Euvax-B(TM). Sinovac is the exclusive distributor for Euvax-B pursuant to a distribution agreement with LGLS signed in February 2006.
Mr. Changjun Fu, Vice President in charge of sales and marketing, said, "The filing of the registration statement is a key step in our ongoing efforts to obtain regulatory approval to sell Euvax-B in China. We look forward to bringing this hepatitis B vaccine to market through Sinovac's established distribution network."
As previously disclosed, Sinovac issued loan repayment letter in June 2006 to two of its former directors, Lily Wang and Heping Wang, in an effort to take immediate remedial steps to address any potential violation of Section 402 of the Sarbanes-Oxley Act. The Company has recently received full repayment in the amount of US$ 562,515.31 from Lily Wang, a former director and CFO until March 22, 2006, for the outstanding balance of a loan owed to the Company arising from her earlier acquisition of Tangshan Yian's equity interest in Sinovac Beijing. The loan in aggregate amount of RMB 10.8 million owed to the Company by Heping Wang for his assuming Tangshan Yian's loan obligations remains outstanding. The Company is working with Mr. Wang in resolving this remaining issue.
About Sinovac
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 vaccines include Healive(TM) (hepatitis A), Bilive(TM) (combined hepatitis A and B) and Anflu(TM) (influenza). Sinovac is currently developing human vaccines against the H5N1 strain of pandemic influenza, Japanese encephalitis and SARS. Additional information about Sinovac is available on its website,
http://www.sinovac.com . To be added to our distribution list, please email:
info@sinovac.com .
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 x871
Fax: +86-10-6296-6910
Investors / Media:
Stephanie Carrington / Janine McCargo
The Ruth Group
Tel: +1-646-536-7017 / 7033
About SINOVAC
Sinovac Biotech Ltd. (SINOVAC) is a global biopharmaceutical company headquartered in China. Guided by its mission to “Supply Vaccines to Eliminate Human Diseases,” the Company is dedicated to the research, development, manufacturing and supply of vaccines and related biological products, providing vaccine products and related solutions for disease prevention and control worldwide.
SINOVAC has a diversified vaccine portfolio across multiple disease areas, including influenza, viral hepatitis, varicella, hand, foot and mouth disease (HFMD), poliomyelitis, rabies, tetanus, and pneumococcal disease. Three of SINOVAC's vaccines have been prequalified by the World Health Organization: the inactivated hepatitis A vaccine Healive®, the Sabin-strain inactivated poliomyelitis vaccine (sIPV), and the live attenuated varicella vaccine.
SINOVAC has extensive experience in vaccine research, development and commercialization for emerging infectious diseases and public health emergencies. The Company initiated vaccine R&D in response to major public health threats, including SARS, H5N1, H1N1, and COVID-19, and developed the world's first inactivated SARS vaccine (with Phase I clinical trials completed), China's first inactivated pandemic influenza vaccine against H5N1 (Panflu®), the world's first H1N1 influenza vaccine (Panflu.1®), and CoronaVac®, the world's most widely used inactivated COVID-19 vaccine. Beyond its marketed portfolio, SINOVAC continues to advance its R&D pipeline, spanning combination vaccines, recombinant protein vaccines, mRNA technologies, antibody-based products, and other next-generation technologies and product platforms, while expanding its capabilities in disease prevention and biopharmaceuticals.
With a long-standing commitment to innovation and global health, SINOVAC continues to deepen collaboration with research institutions, international organizations, and local partners while expanding its global presence. Through technological collaboration, localized production, and industrial partnerships, the Company aims to improve access to high-quality vaccines across regions, better address local disease prevention and healthcare needs, and strengthen preparedness for future public health challenges.
For more information, please see the Company's website at www.sinovac.com.
EN
