Sinovac Biotech Experiences 2024 Mid-Year Downturn

Sinovac Biotech (SVA) has released an update.

Sinovac Biotech Ltd. reported a downturn in its financial performance for the first half of 2024, with revenues falling to $121.3 million from $140.4 million in the previous year and a net loss of $10.9 million, shifting from a net income of $14.0 million. Despite the post-pandemic market challenges, the company continued its commitment to vaccine supply, particularly in response to various infectious disease outbreaks internationally. Furthermore, Sinovac has been making strides in vaccine development and securing international market approvals, including significant commercial developments in Türkiye.

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