China's Booming Healthcare Sector Poised to Benefit China Medical Technologies and Sinovac Biotech
09 December 2011 - 12:16AM
Marketwired
China's healthcare sector has been on the upswing in recent years
with rising incomes and greater government spending on medical care
boosting the appeal of several companies in the sector. As The Wall
Street Journal reported, "A big part of China's appeal is that it
has companies producing drugs and medical devices that are
well-positioned to tap the burgeoning domestic market." The Bedford
Report examines the outlook for companies in China's Healthcare
Sector and provides equity research on China Medical Technologies,
Inc. (NASDAQ: CMED) and Sinovac Biotech Ltd. (NASDAQ: SVA). Access
to the full company reports can be found at:
www.bedfordreport.com/CMED
www.bedfordreport.com/SVA
To date, more than 1.28 billion Chinese citizens are covered by
basic medical insurance programs run by the government, accounting
for nearly 96 percent of the population, according to the latest
statistics from the Ministry of Health. Vice Premier Li Keqiang
said last week that the government is looking at measures that will
deepen the reform of China's health care system, including
increased allowances and expanding the coverage of the country's
essential medicine system.
Keqiang added that health care reform is now facing new
challenges during the 12th Five-Year Plan period (2011-2015) due to
accelerating urbanization and an aging population.
The Bedford Report releases market research on China's
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Sinovac Biotech Ltd., a biopharmaceutical company, engages in
the research, development, manufacture, and commercialization of
vaccines against the hepatitis A, hepatitis B, and influenza
viruses in the People's Republic of China. Last month the company
announced that sales in the third quarter increased 60.8%
year-over-year to $15.4 million, compared to $9.6 million, and
year-to-date sales increased 47.2% to $35.7 million. Dr. Weidong
Yin, Chairman, President and CEO of Sinovac, commented, "Our third
quarter 2011 sales reflected the continued demand for our hepatitis
vaccines, which represent about two-thirds of the sales this
quarter."
China Medical Technologies, Inc., a medical device company,
develops, manufactures, and markets immunodiagnostic and molecular
diagnostic products. Shares of CMED collapsed on Tuesday to hit a
new low, after an online research firm, Glaucus Research Group,
alleged that the Chinese company had defrauded investors. CMED
denies the allegations entirely, arguing that "the allegations set
forth in the Glaucus Research report concern matters which have
long been disclosed in the Company's annual reports and press
releases, misrepresent the information they present and attribute
motives to management that are based on innuendo and fail to take
into account business and commercial considerations relevant to the
matters discussed in the Report."
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