Business & Finance
Sinovac Biotech Ltd posts higher net income of USD104.4m for 2020
23 April 2021 -

Chinese biopharmaceutical company Sinovac Biotech Ltd (NASDAQ:SVA) disclosed on Thursday its net income of USD104.4m (USD0.97 per diluted common share) for the year ended 31 December 2020.

This marks a rise in earnings when compared with net income of USD39.8m (USD0.41 per diluted common share) in the prior year.

Sales of USD510.6m were recorded in 2020, a growth from sales of USD246.1m in the prior year.

R&D expenses were USD48.8m in 2020, an increase over R&D of USD24.3m in the prior year. The company continued to invest in the advancement of pipeline vaccines, including sIPV and COVID-19 vaccines.

Non-GAAP adjusted EBITDA was USD229.9m in 2020, a growth versus USD76.4m in the prior year.