September 3, 2009 / 4:39 AM / 10 years ago

Sinovac gets China OK for H1N1 vaccine production

BEIJING, Sept 3 (Reuters) - Chinese vaccine maker Sinovac (SVA.A) has received approval from Chinese health authorities to mass produce a vaccine for the H1N1 strain of flu, the company’s CEO, Yin Weidong, said on Thursday.

The State Food and Drug Administration gave the green light on Thursday for the vaccine, which Sinovac says needs only one shot to be effective.

Sinovac’s U.S.-listed shares have risen 77 percent in the last two weeks, and hit a historic high of $12.45 on Sept. 1, on anticipation that it would be able to produce and sell its vaccine to China’s enormous population. The stock closed down 18 percent on Wednesday, at $8.53 a share.

Reporting by Lucy Hornby; Editing by Ken Wills

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