Sinovac Biotech (SVA) Surges On Chinese H1N1 Vaccine Production Approval
Shares of Sinovac Biotech (NYSE: SVA) are higher this morning on reports from Reuters, China approved the company for H1N1 vaccine production and the company raised their sales guidance. The stock is up 19% this morning.
CEO Yin Weidong said, "At the beginning of this year, we forecast our sales would rise by 20 percent. H1N1 has given us an opportunity, so the rise should be more than 20 percent."
Sinovac says patients needs only one 15 microgram dose of the vaccine to be effective. Novartis (NYSE: NVS) also said its vaccine gave a strong immune response after one dose in a pilot trial.
Real-Time Market Moving News Two-Weeks FREE http://www.streetinsider.com/premium_content.php
You May Also Be Interested In
- Savient Pharma (SVNT) Moves Higher with Volatility; Bumps Up Against Key Resistance Point
- Siliconware Precision (SPIL) Shares Drop on Volatility Spike
- DryShips (DRYS) Trading Higher on Volatility, New Analyst Coverage
Create E-mail Alert Related Categories
FDA, Insiders' Blog, Momentum MoversSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
