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The Basel-based company announced on November 3 that it would buy an 85% stake in Zhejiang Tianyuan Bio-Pharmaceutical Co., Ltd., one of the 11 licensed H1N1 vaccine makers in China, a deal that market observers describe as an "indirect approach" to the vast Chinese H1N1 vaccine market.
The acquisition will enable the Swiss pharmaceutical titan to get an access to the expanding Chinese H1N1 vaccine market, which is still shut to companies abroad, pointed out a market observer. In a statement unveiled earlier, the Ministry of Health (MOH) said that China would strive to make homemade H1N1 vaccine supply sufficient and products made by overseas companies would not be used temporally, in an effort to make it easier to control product quality.
The proposed deal, which has gained approval from the shareholders of Tianyuan Bio-Pharmaceutical, still needs green light from the Chinese government. Based in Hangzhou, Tianyuan Bio-Pharmaceutical is capable of producing 15 million shots of seasonal flu vaccine a year. It recorded CNY 150 million in sales revenue and CNY 50 million in profits last year.
The global vaccine market is expected to surge to EUR 18 billion in 2012, with influenza vaccine growing at the fastest pace, predicted vaccine maker Sanofi Pasteur. Lehman Brothers Holdings Inc. (NYSE: LEH) anticipated that global vaccine sales revenue would increase 18% year by year, far exceeding an estimated 4.4% annual growth of the entire pharmaceutical industry.
In China, the world's third biggest vaccine market that sees sales revenue of USD 1 billion a year, there are more than 40 vaccine makers. Sinovac Biotech Ltd. (AMEX: SVA), one of the companies authorized to make H1N1 swine-flu vaccine in China, is heading toward a Nasdaq listing.
The Beijing-based company announced on November 4 that it was scheduled to debut on the Nasdaq Global Market on or around November 16 with the stock code of SVA after a listing transfer. Currently listed on the American Stock Exchange (AMEX) of the New York Stock Exchange (NYSE), Sinovac Biotech is the only vaccine maker in Mainland China having a presence on the US stock market.
Looking ahead, Sinovac Biotech will launch more products to come up with the mounting demand for H1N1 vaccine amid the lingering HIN1 pandemic influenza in the world, said Yin Weidong, chief executive officer, chairman, and president for the company.
(USD 1 = CNY 6.83)
Source: dycj.ynet.com (November 06, 2009)
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