Sinovac Biotech Ltd. (NYSE: SVA), a leading provider of biopharmaceutical products in China, announced today that it has received its fourth 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 produce an additional one million doses of PANFLU.1 (TM) (15ug/0.5ml) for the Chinese central government. The delivery of this order is expected to be completed early next year.
The Company recently completed the expansion of its production line utilized to manufacture the seasonal influenza, H1N1 and H5N1 vaccines, thereby increasing its annual production capacity by approximately 30%. Sinovac is utilizing its expanded production line to manufacture the one million doses to fulfill this purchase order.
In aggregate, Sinovac has received orders of PANFLU.1 from the Chinese government for a total 12.49 million doses, and 7.56 million doses of PANFLU.1 have been delivered for the Chinese vaccination campaign.
Mr. Weidong Yin, Chairman, President and CEO of Sinovac, commented, "We are very proud to be supplying our H1N1 vaccine to the Chinese government and are confident that we can complete the national H1N1 vaccine stockpiling task in a timely manner. With the production capacity expansion, Sinovac will be better positioned to work towards our goal of providing citizens of China with affordable, international-quality vaccines."
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