EN
Sinovac Sets the Record Straight Regarding False Statements by Unauthorized Third Parties
BEIJING, March15, 2018 /PRNewswire/ -- Sinovac Biotech Ltd. (“Sinovac” or the “Company”) (NASDAQ: SVA), a leading provider of biopharmaceutical products in China, today responded to public statements made by other parties falsely claiming to control the Company, including a press release falsely purporting to come from Sinovac itself. These statements have misrepresented the outcome of the Company’s recent annual general meeting (AGM) and the composition of the Sinovac board and have attempted to confuse and undermine the Company’s legitimate leadership.
The Company emphasized that third parties, including the dissident shareholders who sought to disrupt the election of directors at the AGM do not have the authority to determine or announce the results of Sinovac’s AGM, comment on the Company’s governance or speak on behalf of the Company.
As Sinovac has previously stated, all five of the Company’s incumbent directors – Weidong Yin, Yuk Lam Lo, Simon Anderson, Kenneth Lee and Meng Mei – were properly re-elected at the AGM by a majority of the votes validly cast. The Board takes seriously its duty to protect the value of the Company for all shareholders, and has taken actions to ensure the continued stable operation of the business, including the appointment by Sinovac Biotech (Hong Kong) Limited, a wholly owned subsidiary of the Company, of Mr. Dawei Mao as a director of Sinovac Biotech Co., Ltd. (“Sinovac Beijing”), the Company’s main operating subsidiary. Mr. Mao has replaced Ms. Xiaomin Yang, the President of Sinobioway Group Co., Ltd., as a director of Sinovac Beijing in accordance with applicable law and procedures. Additionally, the Board noted that Mr. Weidong Yin continues to serve as the Chairman, CEO and President of Sinovac.
Sinovac will take all necessary action to protect the Company from disruption of any kind by unauthorized third parties.
About Sinovac
Sinovac 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 enterovirus71, or EV71, hepatitis A and B, seasonal influenza, H5N1 pandemic influenza (avian flu), H1N1 influenza (swine flu), and mumps. 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 its H1N1 influenza vaccine, which it has supplied to the Chinese Government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine to the government stockpiling program. The Company is developing a number of new products including a Sabin-strain inactivated polio vaccine, pneumococcal polysaccharides vaccine, pneumococcal conjugate vaccine and varicella vaccine. Sinovac primarily sells its vaccines in China, while also exploring growth opportunities in international markets. The Company has exported select vaccines to over 10 countries in Asia and South America. For more information, please visit the Company's website at www.sinovac.com.
Safe Harbor Statement
This announcement may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. In particular, the outcome of any litigation is uncertain, and the Company cannot predict the potential results of the litigation it filed or that could be filed against it by others. Additionally, the triggering of a shareholder rights plan is nearly unprecedented, and the Company cannot predict the impact on the Company or its stock price should its rights plan have been triggered.
Contacts
Sinovac Biotech Ltd.
Helen Yang
Tel: +86-10-8279-9871
Fax: +86-10-6296-6910
Media:
Foote Group
Philip Lisi, +86 135-0116-6560
Abernathy MacGregor
Jeremy Jacobs, +1-212-371-5999
Ina McGuinness +1-213-630-6550
Investors:
ICR Inc.
Bill Zima U.S: 1-646-308-1707
Email: william.zima@icrinc.com
MacKenzie Partners, Inc.
Paul Schulman, +1-212-929-5364
pschulman@mackenziepartners.com
About SINOVAC
Sinovac Biotech Ltd. (SINOVAC) is a China-based global biopharmaceutical company, with a mission of "supply vaccines to eliminate human diseases", the company specializes in the research, development, manufacturing and commercialization of vaccines and related biological products that protect against human infectious diseases.
The company's diversified portfolio includes vaccines for influenza, viral hepatitis, varicella, Hand-Foot-Mouth disease (HFMD), poliomyelitis, pneumococcal disease, etc., of which 3 vaccines have been prequalified by WHO, including inactivated hepatitis A vaccine Healive®, Sabin-strain inactivated polio vaccine (sIPV), and varicella vaccine.
SINOVAC has a leading edge in developing vaccines to combat infectious disease outbreaks and was among the first to initiate R&D during major public health emergencies, including SARS, H5N1, H1N1, and COVID-19. The company developed the world's first inactivated SARS vaccine (Phase I completed), China's first H5N1 influenza vaccine (Paneflu®), the world's first H1N1 influenza vaccine (Panflu.1®), and CoronaVac®, the most widely used inactivated COVID-19 vaccine globally.
Beyond its marketed portfolio, the company is advancing a robust pipeline that includes combination vaccines,recombinant protein vaccines and next-generation platforms such as mRNA technologies and antibodies.
With a long-standing commitment to innovation and global health, SINOVAC is expanding its global footprint by strengthening partnerships with research institutions, international organizations, and local partners. Through broader market presence, technological cooperation, and localized production, the company aims to accelerate vaccine development and supply, enhance regional access to high-quality products, and better address unmet medical needs while improving preparedness for future pandemics.
For more information, please see the Company’s website at www.sinovac.com.