Beijing — Sinovac Biotech Ltd. reported sales of $147.1 million for the first half of 2026, up 12.9% from $130.3 million a year earlier, driven by strong growth in overseas markets.
Overseas revenue rose 82.3% to $66.5 million and accounted for about 45.2% of total sales. The company said international growth helped offset weaker demand in mainland China, where declining birth rates weighed on sales of some products.
“We delivered steady revenue growth, driven primarily by the sustained expansion of overseas business,” said Weidong Yin, CEO of SINOVAC. He said the company is continuing to expand internationally while advancing its vaccine pipeline.
Sales of Sinovac’s varicella vaccine rose 62.4% to $48.5 million, while sales of its Sabin-strain inactivated poliomyelitis vaccine increased 35.3%. The company also secured initial marketing authorizations for several vaccines across 12 international markets.
Sinovac’s gross profit increased to $95.5 million from $81.5 million, while gross margin improved to 65% from 62.5% a year earlier. Selling, general and administrative expenses declined to $130.9 million from $147.2 million, while research and development expenses fell to $83.2 million from $126.9 million.
The company reported a net loss of $91.4 million for the first half, compared with a $96.6 million net loss in the same period of 2025. Net loss attributable to common shareholders widened to $60.2 million, or 84 cents per share, from $21.7 million, or 30 cents per share, a year earlier.
Sinovac also highlighted progress across its development pipeline. Its rabies vaccine received marketing approval from China’s National Medical Products Administration on Aug. 4, and the company plans to seek World Health Organization prequalification. Its bivalent enterovirus vaccine for hand, foot and mouth disease has also been accepted for regulatory review and granted priority review status.
The company currently has five late-stage product candidates, including vaccines targeting hand, foot and mouth disease, pneumococcal disease and meningococcal disease, as well as a fully human anti-tetanus toxin monoclonal antibody.
As of June 30, Sinovac had $998.5 million in cash, cash equivalents and restricted cash, down from $1.2 billion at the end of 2025.
