Daily Stock Setups

Sinovac Biotech signs joint venture with Dalian Jin Gang for human-use vaccines

Posted on: Thu, 26 Nov 2009 13:54:00 EST

Symbols: SVA

Are you looking to increase your ETF knowledge?

Nov 26, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
SVA | Quote | Chart | News | PowerRating -- Sinovac Biotech, Ltd., a biotechnology company, has signed a joint venture (JV) agreement with Dalian Jin Gang Group Co., Ltd., a manufacturer of fine chemicals, to establish a new company, Sinovac (Dalian) Vaccine Technology Co., Ltd. (Sinovac Dalian). All the partners are based in China.

Under the terms of the joint venture, Sinovac Biotech will hold a 30% stake in the joint venture and Dalian Jin Gang will hold the remaining 70% stake. Sinovac Dalian will focus on the research, development, production and commercialization of human-use vaccines. Sinovac Dalian's development pipeline is expected to be comprised of vaccines for rabies, mumps, varicella and rubella.

Sinovac will contribute its expertise and experience in developing and commercializing vaccines. Sinovac Biotech through its wholly-owned subsidiary Sinovac Biotech (Hong Kong), Ltd., shall make an initial cash contribution of CNY60 million ($8.8 million). Dalian Jin Gang shall make an asset contribution, inclusive of its manufacturing facilities, production lines and land use rights, with an appraised value of CNY140 million ($20.53 million).

Pursuant to the agreement executed between Sinovac and Dalian Jin Gang, Sinovac will increase its equity shares to 55% in exchange for a cash contribution of CNY50 million on or before December 31, 2010.

Deal Value (US$ Million) 29.33
Deal Type                Partnership
Sub-Category             Joint Venture,Research and discovery,Development,Commercialization,Manufacturing
Deal Status              Announced: 2009-11-25

Deal Participants

Partner 1 (Company) Sinovac Biotech, Ltd.
Partner 2 (Company) Dalian Jin Gang Group Co., Ltd.

Deal Rationale

This agreement will enable Sinovac to expand its manufacturing capacity, diversify its production capabilities and increase its operational scale.

For full details on Sinovac Biotech Ltd (SVA) SVA. Sinovac Biotech Ltd (SVA) has Short Term PowerRatings at TradingMarkets. Details on Sinovac Biotech Ltd (SVA) Short Term PowerRatings is available at This Link.

More News: Market Updates | Stock Alerts | All Trading News

Disclaimer:

The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.

It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.

The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302

All analyst commentary provided on TradingMarkets.com is provided for educational purposes only. The analysts and employees or affiliates of TradingMarkets.com may hold positions in the stocks or industries discussed here. This information is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on TradingMarkets.com is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy.