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TheStreet Open House

Sinovac Biotech's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SVA

Helen Yang

Hello, everyone. Thank you for joining us on this conference call. On the call today, as Stephanie mentioned, our Chairman, President and CEO Mr. Yin, and our CFO Mr. Danny Chung. And I will give you an update on the business on Mr. Yin behalf, and Danny will discuss about the financials afterwards. Maybe let me start by providing you with a general business update for the quarter.

We are actually very pleased to see a continuous strong sales of our hepatitis vaccine in the second quarter, especially for Bilive. And this product actually grow year-over-year for the quarter with about 28%. And also for the six-month sales number, the realized sales growth even stronger, which brings a growth rate with about 26% compared to the first half of last year.

And these results clearly demonstrate that our continuous success in expanding our hepatitis vaccines in the private sector of Chinese vaccine market. And as we announced earlier today, Sinovac also had successfully won a tender in Gansu province to supply over 700,000 doses of Healive, which is the company's inactivated hepatitis A vaccine. And this vaccine will be administered within this year as part of the booster vaccination campaign in that area with a high incidence rate of hepatitis A. And the total value of this bid is about close to RMB 23 million which is about US$3.6 million. And we indicated that the vaccine delivery will commence in the fourth quarter of this year.

And we also have seen that overseas sales contributed higher percentage to the total sales, which in this quarter is about 4%. We believe that our activities, training and investment for the sales and marketing team can improve our capabilities and expanding our presence in vaccine market give us an opportunity that we can leverage the platform and the team’s experience to successfully commercialize our EV71 vaccine which is in the Phase III clinical study at the moment.

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