Sinovac’s Covid vaccine sales nosedive; Gracell trims pipeline, starts lupus study

Chi­na-based phar­ma Sino­vac has seen a stark falloff in sales since last year.

In Sino­vac’s fi­nan­cial dis­clo­sures for the first half of the year, the phar­ma re­port­ed sales of $140.4 mil­lion, a steep drop from the $1.2 bil­lion it re­port­ed at the halfway point in 2022.

The phar­ma stat­ed that this de­crease was due to a de­cline in the sales of its Covid-19 vac­cine, known as Coro­n­aVac, among oth­er fac­tors. Sino­vac saw a net loss of $30 mil­lion in the first half, where­as this time last year it saw a net in­come of $790.4 mil­lion. Coro­n­aVac is a whole, in­ac­ti­vat­ed virus Covid-19 vac­cine.

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