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Sinovac to distribute LG Life Sciences vaccines in China
3/16/2006
BEIJING (AFX) - China's Sinovac Biotech Ltd (Sinovac) and Korean pharmaceutical firm LG Life Sciences, Ltd (LGLS) have signed a vaccine distribution agreement, the companies said in a joint statement.
Under the terms of the agreement, Sinovac will act as the sole distributor of LGLS's hepatitis B vaccine in China.
'Partnering with Sinovac is an exceptional opportunity for LGLS to execute our business strategy; which is to secure global marketing capabilities,' said In-Chull Kim, LGLS' chief executive.
Euvax B, LGLS's hepatitis B vaccine, is being exported to over 60 countries, including UN-sponsored programs.
Sinovac has developed vaccines for SARS and pandemic flu (H5N1).
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