|Sinovac Biotech set to climb after firm is selected to supply seasonal influenza vaccine in China|
|By Staff and Wire Reports|
|Thursday, 13 October 2011 07:08|
Sinovac Biotech Ltd. (Nasdaq:SVA) announced today that it has been selected by the Beijing Centers for Disease Control and Prevention (Beijing CDC) as one of the four manufacturers to supply seasonal influenza vaccine to the citizens of Beijing for the fourth time.
Starting in 2007, to prevent and control the seasonal flu, the Beijing CDC began purchasing the seasonal flu vaccines to immunize the elderly over 60 and the elementary and secondary school students in Beijing.
In 2011, the Beijing CDC plans to order a total of two million doses for this vaccination campaign. The total quantity to be supplied will depend on the actual demand in Beijing. In 2010, total about 269,000 doses of Anflu were inoculated to the target population for the vaccination campaign in Beijing. According to the Beijing Health Bureau's data as of November 30, 2010, approximately 1.6 million Beijing citizens were inoculated with the seasonal flu vaccines, inclusive of the target population covered by the free vaccination campaign.Sinovac's research and development is focused on two aspects: 1) Original vaccines for new infectious diseases such as SARS and Avian Influenza; and 2) Technological renovation of traditional vaccine such as Japanese Encephalitis. Its R&D pipeline includes: EV71 vaccine, Pneumococcal Conjugate vaccine, HIB vaccine, Meningitis vaccine, Japanese Encephalitis vaccine, Rabies vaccine, etc. The company's product portfolio includes: Healive, an inactivated hepatitis A vaccine; Bilive®, an inactivated hepatitis A and B vaccine; Anflu, a split influenza vaccine; Panflu®, an inactivated H5N1 influenza (avian flu) vaccine; etc.
Shares of Sinovac are trading just under their 50-day moving average at -56% from their 52-Wk High ($ 5.06 ). They closed the previous session at $2.22.