Press release
SINOVAC Beijing Settled Litigation of Its Business License and Seals
BEIJING--(BUSINESS WIRE)-- SINOVAC Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China,
About this update from Sinovac Biotech, Ltd.
[{"type":"text","content":" BEIJING--(BUSINESS WIRE)--\nSINOVAC Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, announced the Company’s subsidiary SINOVAC Biotech Co., Ltd (“SINOVAC Beijing”) settled the litigation with Mr. Aihua Pan concerning its business license and seals.\n\nAs disclosed previously, Mr. Aihua Pan made the false claim to certain government agencies that SINOVAC Beijing’s business license, official corporate seal, financial seal, contract seal and invoice seal had been lost. Mr. Pan subsequently obtained a re-issued business license of SINOVAC Beijing based on the false claim. Mr. Pan further obtained SINOVAC Beijing’s corporate seal (No.: 1101081347485), contract seal and invoice seal (collectively, the “Seals”) by using the re-issued business license. In December 2018, the People’s Court in Haidian District, Beijing (the “Court”) issued an interim injunction order restraining Mr. Aihua Pan from using or authorizing others to use the re-issued business license and the Seals of SINOVAC Biotech that were improperly obtained by him. On November 30, 2021, SINOVAC settled the litigation with Mr. Aihua Pan in the Court. With the settlement, Mr. Pan has returned the business license and the Seals to SINOVAC Beijing, and SINOVAC Beijing has withdrawn its claims with the Court.\n\nAbout SINOVAC\n\nSINOVAC Biotech Ltd. is a China-based biopharmaceutical company that focuses on the research, development, manufacturing and commercialization of vaccines that protect against human infectious diseases. SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus71 (EV71), hepatitis A and B, seasonal influenza, 23-Valent pneumococcal polysaccharide (“PPV”), H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), varicella, mumps and Poliomyelitis. SINOVAC’s COVID-19 vaccine, CoronaVac®, has been granted emergency use approval or conditional marketing authorization by over 50 countries or regions worldwide. Healive®, the hepatitis A vaccine manufactured by the Company, has passed the assessment under WHO prequalification procedures in 2017. The EV71 vaccine, an innovative vaccine developed by SINOVAC against hand foot and mouth disease caused by EV71, was commercialized in China in 2016. In 2009, SINOVAC was the first company worldwide to receive approval for it...