Sinovac Biotech Ltd., and LG Life Sciences, Ltd. Announce Distribution Agreement to Market Vaccines in China

15-Mar-2006 - China

Sinovac Biotech Ltd. and LG Life Sciences, Ltd. announced that Sinovac and LGLS entered into an distribution agreement on February 28, 2006 in which Sinovac will act as LGLS's exclusive distributor for its hepatitis B vaccine, EUVAX B, in the Peoples Republic of China (PRC).

"Signing this agreement is the beginning of Sinovac's international cooperation with vaccine suppliers. After long, careful analysis, we are very pleased to begin this strategic relationship with LG Life Sciences" said Mr. Yin Weidong, CEO of Sinovac. Sinovac and LGLS signed a Letter of Intent on May 12th, 2005 to collaborate their international and sector marketing efforts and vaccine supply.

EUVAX B is a second-generation vaccine for hepatitis B developed in 1991 after ten years of research. In 1996, the product was the first in its class from Korea to be certified compliant to WHO standards for pharmaceutical production and quality control. The vaccine is now being distributed to third world countries through Sanofi Pasteurt, as well as UNICEF and the Pan America Health Organization. EUVAX B has already been registered in 63 countries and an aggregate of more than 400 million pediatric doses have been supplied worldwide as of the end of 2004.

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