Sinovac Biotech appoints new board director and audit chair

BEIJING - Sinovac Biotech Ltd. (NASDAQ:SVA), a prominent biopharmaceutical company in China with a current market capitalization of $35.58 million, has announced the appointment of Sven H. Borho, CFA, as a new director to its board. Mr. Borho, a founding partner of the healthcare investment firm OrbiMed, will also serve as the Chair of the Audit Committee, succeeding a recently resigned member. According to InvestingPro data, the company’s financial health score currently stands at 1.16, indicating some challenges ahead.

With over three decades of experience in healthcare investment, Borho brings a wealth of knowledge to Sinovac’s board. OrbiMed, where Borho is a managing partner, manages approximately $17 billion in assets and has been a shareholder in Sinovac since 2013, currently holding over 2.7 million shares. The appointment comes during a challenging period for Sinovac’s stock, which has seen a -71.3% return over the past year, with the share price currently well below its 52-week high of $0.42.

The appointment of Mr. Borho expands the board to five members and strengthens the Audit Committee, which now includes Mr. Borho, Mr. Yuk Lam Lo, and Dr. David Guowei Wang. The board’s other committees, such as the Compensation Committee and the Corporate Governance and Nominating Committee, will continue to be served by existing members Dr. Chiang Li, Mr. Lo, and Dr. Wang.

Sinovac is recognized for its research and development, manufacturing, and commercialization of vaccines for infectious diseases, including COVID-19, hepatitis A, and influenza, among others. Its COVID-19 vaccine, CoronaVac, has been authorized for use in over 60 countries and regions. Additionally, the company’s hepatitis A vaccine, Healive, has passed the World Health Organization’s prequalification requirements, and its EV71 vaccine, Inlive, was commercialized in China for hand-foot-mouth disease.

The company has a history of being the first to receive approval for its H1N1 influenza vaccine in China and is the exclusive supplier of the H5N1 pandemic influenza vaccine to the Chinese government’s stockpiling program. Sinovac continues to focus on developing new vaccines and expanding its global market presence.

This board enhancement is part of Sinovac’s ongoing commitment to governance and international cooperation in the biopharmaceutical industry. The information is based on a press release statement from Sinovac Biotech Ltd.

In other recent news, Sinovac Biotech Ltd. has been urged by Heng Ren Partners, a shareholder, to distribute $8.9 billion in cash to its shareholders, highlighting the company’s substantial revenue growth from $246 million in 2019 to over $19 billion in 2021. Despite this growth, no cash distributions have been made to common shareholders, although subsidiaries have paid $2.7 billion in dividends to minority shareholders between 2021 and 2024. Heng Ren Partners is also calling for the resumption of Sinovac’s trading on NASDAQ, which has been suspended for over six years due to litigation. The company resolved its litigation in January 2025 and appointed a new board of directors in February 2025. Sinovac has confirmed significant changes to its board following a court order, which invalidated the company’s Rights Agreement and led to the cancellation of shares issued under it. The new board, led by Chairman Dr. Chiang Li, is committed to transparency and corporate governance, with efforts underway to resume trading and validate outstanding shares. Sinovac plans to provide a business update soon, as it continues to expand its global market presence.

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