Sinovac Finds India Partner for H1N1 Vaccine

Mar.21.10 | About: Sinovac Biotech, (SVA)

Sinovac Biotech Co. (NYSE: SVA)has signed up Parenteral Drugs India (BSE: 524689) to distribute its H1N1 Influenza Vaccine (Split Virion) and Inactivated (Panflu.1) in India. Parenteral, which will have an exclusive license for the vaccines in India, will presumably be responsible for registering them in its home territory.

No financial details of the agreement were disclosed.

Parenteral produces a long list of pharmaceutical products, including antibiotics, anti-ulcerant, anti- bacterial, anti-inflammatory/analgesics, anti-cold, multi-vitamins and cardiac drugs. It has also recently launched liquid cough syrups, anti-cold medications and other pediatric products. The company is listed on the Bombay exchange.

To date, most of Sinovac’s revenues have come from within China, though it also registered Panflu.1 in Mexico. Sinovac made its reputation by developing a vaccine for hepatitis B, Healive®. The company had difficulty gaining market share for its flu vaccine until this year, when it prospered by selling both seasonal flu vaccine and H1N1 vaccine to municipal and provincial health agencies in China. The company has not yet released its 2009 financial results, though analysts expect a large increase in revenues during the last six months of the year.

Disclosure: none.