Chinese biopharmaceutical company Sinovac Biotech Ltd (NASDAQ:SVA) stated on Thursday its net income of USD5.1bn (USD51.42 per basic and USD44.80 per diluted common share) for the six months ended 30 June 2021.

This marks a rise in earnings when compared with a net loss of USD12.6m (USD0.13 loss per basic and diluted common share) in the prior year period.

Sales of USD11.0bn were reported for the six months ended 30 June 2021, up over USD67.7m in the prior year period, due to higher sales of CoronaVac and sales growth of its other products as the COVID-19 pandemic subsided in China and vaccine schedules returned to normal.

R&D expenses of USD53.9m were recorded for the six months ended 30 June 2021, an increase versus R&D expenses of USD20.1m in the prior year period.