Sinovac Scores Chinese H1N1 Swine Flu Vaccine Pact In China (SVA)
Sinovac Biotech Ltd. (AMEX: SVA) has won a key H1N1 influenza virus vaccine pact. This is a vaccine supply pact for the government in Beijing and sounds as though it could be just the first of many ‘possible’ pacts.
The initial order consists of 4 million doses and is expected to be delivered by the end of September. This order will be administered to 2 million people in the high risk group. Additional orders are expected beginning in October and, in total, Sinovac expects to supply approximately 10 million doses to the Beijing government. The 10 million doses will be administered to 5 million people in Beijing.
On June 14, 2009, Sinovac completed construction of the H1N1 virus seed bank necessary to produce a virus antigen. It then commenced production of the first batch of H1N1 vaccine and the company expects to complete production of the first batch by the end of July.
Sinovac shares are surging on the news. The stock is up 10% at $4,01; and the 52-week trading range is $0.75 to $4.98.
Jon C. Ogg
June 19, 2009
10:04 AM EST
