August 31, 2009 / 1:01 PM / 10 years ago

UPDATE 2-Sinovac says Chinese experts clear swine flu vaccine

* Says H1N1 flu vaccine passes evaluation by SFDA experts

* Sees to obtain production license within a week

* Shares rise 26 pct to an all-time high (Recasts; adds background, updates share movement)

Aug 31 (Reuters) - China’s Sinovac Biotech Ltd (SVA.A) said its vaccine for the new H1N1 flu virus strain, or swine flu, passed an experts evaluation organized by Chinese health regulators, sending its shares soaring to a new lifetime high.

The experts agreed that Sinovac’s H1N1 vaccine is applicable to people from 3 years to 60 years old and the vaccination schedule is a single shot, the company said in a statement.

Any additional vaccine production could play a crucial role in combating the H1N1 flu outbreak, which, according to the World Health Organization, is estimated to affect about 2 billion people worldwide.

The company said it expects to obtain production license for its vaccine within a week.

Sinovac said the result of the experts evaluation conference will be submitted to China’s State Food and Drug Administration (SFDA), on Sept. 1 and is expected to be the primary opinion for SFDA to issue the production license.

Sinovac is the first company worldwide to complete clinical trials for a vaccine to treat strain of H1N1. [ID:nLI544899]

Earlier this month, the company said its H1N1 vaccine’s immunogenicity factors reached the European Union criterion after a single shot and showed no severe adverse events after inoculation.

Shares of the company were up $1.41 at $7.73 Monday morning on the American Stock Exchange. They touched a high of $7.94 earlier in the session. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Gopakumar Warrier)

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