Sinovac Biotech (SVA) has released an update.
Sinovac Biotech Ltd. has reported a decrease in annual sales for 2023 to $448.3 million from $1.5 billion the previous year, alongside a net loss of $105.9 million, reflecting a shift from pandemic-level supply of COVID-19 vaccines to a normalized operation. Despite the financial downturn, the company has seen growth in its regular product lines and continues to expand its vaccine offerings, including the approval of new vaccines and the start of clinical trials for others. Additionally, Sinovac is strengthening its international presence through new production facilities and strategic partnerships, such as the joint venture in Türkiye and the collaboration with BogotáBio in Colombia.
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