Daily Management Review

Chinese Sinovac's profit grows 78 times in one year


Sinovac, a Chinese vaccine company, saw its net profit climb 78 times in 2021. Bloomberg reports this, citing the company's financial report.

Covid-19 vaccination
Covid-19 vaccination
The company's sales were estimated to be over $14.5 billion, according to the paper. The figure was $185.2 million in 2020. The increase in net profit was primarily attributable to higher sales, which totaled $19.4 billion in comparison to $510.6 million the previous year.

Sinovac has distributed more than 2.8 billion CoronaVac vaccination doses so far. In China, 300 million doses have been distributed to health-care organizations.

Hong Kong scientists previously discovered that the CoronaVac coronavirus vaccine could cause Bell's palsy, a brief facial nerve paralysis. The benefits and protection provided by the inactivated COVID-19 vaccination, on the other hand, considerably outweigh the danger of this side effect, which normally fades away on its own.

source: bloomberg.com