Sino Biopharmaceutical completed the acquisition of a 15% stake in Sinovac Life Sciences from Sinovac Biotech for $500m.

Sino Biopharmaceutical, an innovative research and development driven pharmaceutical conglomerate, completed the acquisition of a 15% stake in Sinovac Life Sciences from Sinovac Biotech, a provider of biopharmaceutical products, for $500m. “We have made significant progress in the development of our COVID-19 vaccine candidate CoronaVac, which has reached critical milestones in clinical trials in Asia and Latin America. In addition to funding the CoronaVac, this new strategic partnership with Sino Biopharmaceutical Limited further enables us to improve our vaccine sales capabilities, expand in Asia markets, develop and access new technologies, and most importantly, accelerate our efforts to help combat the global pandemic,” Weidong Yin, Chairman, Sinovac President and CEO.