BEIJING and SEOUL, Korea, March 13 /Xinhua-PRNewswire/ -- Sinovac Biotech Ltd. ("Sinovac") and LG Life Sciences, Ltd. (''LGLS''), the leading pharmaceutical company in South Korea, today announced that Sinovac and LGLS entered into an distribution agreement on February 28, 2006 in which Sinovac will act as LGLS's exclusive distributor for its hepatitis B vaccine in the Peoples Republic of China (PRC).

''Signing this agreement is the beginning of Sinovac's international cooperation with vaccine suppliers. After long, careful analysis, we are very pleased to begin this strategic relationship with LG Life Sciences,'' said Mr. Yin Weidong, CEO of Sinovac. Sinovac and LGLS signed a Letter of Intent on May 12th, 2005 to collaborate their international and China sector marketing efforts and vaccine supply.

''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, PhD, President and CEO of LG Life Sciences. LG Life Sciences is exporting its Hepatitis B vaccine, EUVAX BTM, to more than 60 countries including UN-sponsored programs.

Based on previous studies, Sinovac believes Euvax B will compare favorably to vaccines in China. Mr. Yin noted, ''This agreement fits very well with our overall business strategy, once we successfully register EUVAX, we will have another sales revenue generator for Sinovac.''

Dr. Kim continued, ''This market is important to us and we are confident in Sinovac's registration and vaccine distribution capability in China.'' Sinovac has gained great respect and brand name recognition as a result of its successes in developing vaccines for SARS and pandemic flu (H5N1).

Sinovac Updates Seasonal Flu Vaccine

The World Health Organization (WHO) invited Sinovac to attend the Information Meeting on Influenza Vaccine Composition for the Northern Hemisphere 2006-2007 in Geneva Switzerland. Sinovac scientist, Lin Su joins over 50 representatives from members of the GIP (Global Influenza Program).

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