Biopharmaceutical products company Sinovac Biotech Ltd (NASDAQ:SVA) announced on Friday that it recorded a net income attributable to common shareholders of USD6.3m (USD0.06 per basic and diluted share) for the third quarter ended 30 September 2019.

This reflects a decline in earnings when compared with net income attributable to common shareholders of USD8.9m ( USD0.12 per basic and diluted share) in the prior year period

Sales of USD64.3m were recorded for the third quarter of 2019, a rise of 19.3% from sales of USD53.9m in the prior year period, due to higher sales of influenza vaccines.

R&D expenses of USD5.7m were recorded in the third quarter of 2019, an increase versus R&D of USD4.7m in the prior year period, as the company continued to invest in the development of its pipeline of product candidates, including sIPV, PPV and the varicella vaccine.