BEIJING, Nov. 17 /PRNewswire-Asia/ — Sinovac Biotech Ltd. (Nasdaq: SVA – News), a leading developer and provider of vaccines in China, announced today that it received a revised production license from State Food and Drug Administration for Panflu.1, the Company’s H1N1 vaccine. The population has been expanded to include people over 60 years old. The shelf life for PANFLU.1 was extended to one year from six months.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, stated, “The revised license enables Sinovac to provide our H1N1 vaccine to a broader population across China and lengthens the product shelf life. We continue to work closely with Chinese government to provide citizens with international-quality vaccines and to fulfill our mission of supplying vaccines to eliminate human diseases.”
Also Sinovac was selected by the Shanghai Government to supply its inactivated hepatitis A vaccine, Healive®, to the public market of Shanghai. Out of the five vaccine manufacturers that participated in the bidding process, the Shanghai Government awarded Sinovac the entire hepatitis A vaccine purchase order, valued at RMB 20.6 million, or approximately $3 million. Pursuant to the agreement, Sinovac will supply Healive® over the next twelve months.
The purchase plan from the Shanghai Government reflects the continued expansion of government purchase programs for vaccines. This is part of the national expanded immunization program (EPI) funded by the Chinese government.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, remarked, “We are pleased that the Shanghai Government selected Sinovac as the sole manufacturer for this $3 million hepatitis A tender offer. Earlier this year, we established growth for Healive in both the public and private pay markets as a strategic goal. At that time, our newly completed filling and packaging plant had made us well positioned to fulfill existing orders, increase our production scale for meeting the demand from both public market and private market and develop new vaccines. We have done just that, securing large Healive purchase orders from the Shanghai government and China’s Ministry of Public Health, even as we quickly adapted to develop and commercialize PANFLU.1, a time sensitive H1N1 vaccine. The selection confirms our ability to supply our high quality vaccines pursuant to the Government purchasing programs.”
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Why stocck SVA is goung down???????