HPV vaccine makers eye growth overseas

Companies make notable inroads abroad amid near market saturation in domestic sector

As the domestic market approaches a potential saturation point and intensified price competition becomes more of a challenge, China's human papillomavirus vaccine manufacturers are seeking to expand incremental markets and explore overseas opportunities to secure further growth.

According to its latest financial report, in the first three quarters, Beijing-based Wantai Biopharm, a major HPV vaccine producer in China, reported revenue of 1.95 billion yuan ($269 million), down 60.8 percent year-on-year, while net profit stood at 267 million yuan, a significant decline of 85.25 percent.

Wantai Biopharm in its statement attributed the sharp decline in performance to factors including extended market impact of nine-valent HPV vaccines, intensified competition and inventory adjustments, which have all added up to sales declines.