September 4, 2009 - Shares of Sinovac Biotech Ltd. (SVA) continue their wild ride but are called higher in pre market this morning due to the following news.
Sinovac Obtains Initial Order of H1N1 Vaccine from Chinese Central Government
Sinovac Biotech Ltd. (NYSE: SVA) a leading provider of biopharmaceutical products in China, announced today that the Ministry of Industry and Information Technology of the People's Republic of China has issued the initial order to Sinovac to purchase H1N1 vaccine for the national stockpiling plan. According to the initial order, Sinovac is required to complete the production of 3.3 million doses of PANFLU.1 (15ug/0.5ml), the H1N1 vaccine manufactured by Sinovac, before September 15, 2009. Two doses of the vaccine are packaged in one vial.
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Looking at the charts, resistance is located at $10.48 which was the high from 9/3/09. If SVA breaks up through that level, I will jump in for a trade.
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