Press release
SINOVAC Reports Unaudited First Half of 2022 Financial Results
BEIJING, China,--(BUSINESS WIRE)-- Sinovac Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in
About this update from Sinovac Biotech, Ltd.
[{"type":"text","content":" BEIJING, China,--(BUSINESS WIRE)--\nSinovac Biotech Ltd. (NASDAQ: SVA) (“SINOVAC” or the “Company”), a leading provider of biopharmaceutical products in China, announced today its unaudited financial results for the six months ended June 30, 2022.\n\nFirst Half of 2022 Financial Summary\n\n\nSales for the six-month period ended June 30, 2022 were $1.2 billion, compared to $11.0 billion in the prior year period.\n\n\n\nNet income attributable to common shareholders totaled $481.6 million, or $4.84 per basic and $4.24 per diluted share, in the six-month period ended June 30, 2022, compared to net income attributable to common shareholders of $5.1 billion, or $51.42 per basic and $44.80 per diluted share, in the prior year period.\n\n\n\nMr. Weidong Yin, Chairman, President and CEO of SINOVAC, commented, “The COVID-19 pandemic will ultimately end, but the past three years have again demonstrated the importance of vaccination to fight against infectious diseases and the global need to build a resilient health system. SINOVAC is the largest Chinese COVID-19 vaccine provider and is also working to provide accessible pharmaceutical products to meet increasing worldwide healthcare demand. In parallel, Sinovac’s regular non-COVID-19 vaccine business grew 37% year over year. In addition, two products passed WHO prequalification providing further proof of Sinovac’s overall vaccine production quality system and creating new commercial opportunities outside of China. Also in 2022, we invested heavily into R&D on COVID-19 vaccines in different age groups and technological platforms. While we have proved that our inactivated vaccine is safe and effective on children, our recombinant vaccine candidate is ready for IND.”\n\n\nBusiness Updates\n\nCOVID-19 Vaccine – CoronaVac®, the inactivated COVID-19 vaccine developed by SINOVAC, has been approved for use in more than 60 countries and regions worldwide. At this time, over 2.9 billion doses of CoronaVac® have been delivered globally, making SINOVAC the largest China-based COVID-19 vaccine provider the international market.\n\nNotably, CoronaVac® has become the only inactivated COVID-19 vaccine in the world approved for use for children as young as six months old, after the Secretary of Health of the HKSAR of the PRC approved the lowering of the minimum age for receiving CoronaVac® from three yea...