Sinovac’s Covid-19 Vaccines Give Big Boost to Shareholder’s Profits

What’s new: Covid-19 vaccines made by Sinovac Life Sciences Co. Ltd. made a big contribution to profit growth of the Chinese vaccine-maker as well as its shareholders last year.

Chinese pharmaceutical giant Sino Biopharmaceutical Ltd., which holds a 15% stake in Sinovac, said in its annual report released Thursday that major associates and joint ventures as a whole contributed 12.4 billion yuan ($1.9 billion) to company’s net profit last year, with Sinovac performing “particularly well” as it has supplied 2.7 billion doses of Covid-19 vaccines worldwide.