Sinovac Jumps to Record as Approval of Swine Flu Vaccine Nears

Source: Bloomberg

Aug. 31 (Bloomberg) -- Sinovac Biotech Ltd., a Beijing- based biopharmaceutical company, rose to a record high after saying it may obtain a license that will allow it to produce a vaccine for swine flu this week.

Sinovac rose 42 percent to $9 at 12:32 p.m. New York time.

“The vaccine is expected to obtain the production license within this week,” Sinovac said in a statement distributed by PRNewswire.

The number of swine flu cases globally reported to the World Health Organization totaled 209,438 as of Aug. 23, with 2,185 deaths, the agency said. Countries in the Northern Hemisphere, where the flu season gets under way in the fall, are advised to prepare for a second wave of pandemic flu cases, the WHO said in a separate report Aug. 28.

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