Sinovac: China Vaccine Sales Drop Due to New Government Policies

Sinovac Biotech, a Beijing vaccine company, reported that new government regulations caused China vaccine revenues to fall 50% in Q1. After the recent vaccine distribution scandal in Shandong Province, China's State Council required vaccine makers to participate in the provincial tendering process -- even though their products are sold to the private pay market. Provincial drug councils don't have procedures in place for these new regulations, and sales of vaccines slid lower in Q1 of this year as a result. Sinovac expects Q2 sales will be lower as well. More details.... Stock Symbol: (NYSE: SVA) Share this with colleagues: // //