Sinovac's Covid vaccine sales nosedive; Gracell trims pipeline, starts lupus study
China-based pharma Sinovac has seen a stark falloff in sales since last year.
In Sinovac’s financial disclosures for the first half of the year, the pharma reported sales of $140.4 million, a steep drop from the $1.2 billion it reported at the halfway point in 2022.
The pharma stated that this decrease was due to a decline in the sales of its Covid-19 vaccine, known as CoronaVac, among other factors. Sinovac saw a net loss of $30 million in the first half, whereas this time last year it saw a net income of $790.4 million. CoronaVac is a whole, inactivated virus Covid-19 vaccine.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
