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news.China-based vaccines developer Sinovac Biotech has completed a $3.3 million acquisition of an additional 21% of its Beijing-based operating subsidiary, Sinovac Biotech Co Ltd.
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Sinovac paid cash for the 20.56% of Sinovac (Beijing), to China Bioway Biotech Group Co Ltd, Shenzhen Bio-Port Co Ltd and Beijing Keding Co Ltd.
Sinovac’s holdings now include nearly 72% of Sinovac (Beijing), with China Bioway Biotech Group, a subsidiary of Beijing University, owning the remaining 28%. Sinovac also owns 100% of the Tangshan Yian R&D and production facility, which was acquired in February 2004.
Dr Wei Dong Yin, president of Sinovac, commented, “We are delighted to have increased the ownership of Sinovac in its key Beijing operating subsidiary to almost 72%. If possible, we will endeavor to purchase further interests from China Bioway.”
The company is also looking for potential future acquisitions to complement its current vaccine product portfolio, which includes marketed products Healive for hepatitis A, Bilive for hepatitis A&B combined and an experimental vaccine to prevent SARS.