Navigation Links
Simcere Pharmaceutical Group Announces Agreement to Acquire 37.5% Stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd.
Date:5/26/2009

NANJING, China, May 26 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading manufacturer and supplier of branded generic and innovative pharmaceuticals in China, today announced an agreement to acquire a 37.5% stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd. ("Jiangsu Yanshen") from existing shareholders for a total cash consideration of approximately RMB195.5 million. Upon the closing of the transaction, Simcere is expected to be the largest shareholder in Jiangsu Yanshen.

Located in Changzhou, Jiangsu Province, Jiangsu Yanshen is a leading China-based developer and manufacturer of vaccines. Jiangsu Yanshen's core products include an influenza vaccine and a human use rabies vaccine (vero cell), which have the second and the fourth largest market shares in China respectively.

In addition, Jiangsu Yanshen has received a new medicine certificate from the PRC State Food and Drug Administration ("SFDA") for its freeze-dried human use rabies vaccine (vero cell) and has completed clinical trials of its purified hepatitis A inactivated vaccine (vero cell). SFDA approval for the purified hepatitis A inactivated vaccine (vero cell) and GMP certification for the associated new manufacturing facility are pending.

"Vaccines have strong market potential and represent one of China's key emerging industries," said Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group. "We are delighted to enter this new market through our investment in Jiangsu Yanshen. This is another significant development for Simcere in the biopharmaceutical area, following our recent investment in Shanghai Celgen Bio-Pharmaceutical Co., Ltd."

Safe Harbor Statement

This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipate," "believe," "estimate," "expect," "forecast," "intend," "may," "plan," "project," "predict," "should" and "will" and similar expressions. These forward looking statements are based upon management's current views and expectations with respect to future events and are not a guarantee of future performance. Furthermore, these statements are, by their nature, subject to a number of risks and uncertainties that could cause actual performance and results to differ materially from those discussed in the forward-looking statements as a result of a number of factors. Further information regarding these and other risks is included in Simcere's filing with the U.S. Securities and Exchange Commission at www.sec.gov. Simcere does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group (NYSE: SCR; Simcere) is a leading manufacturer and supplier of branded generic and innovative pharmaceuticals in China. In recent years, Simcere has been focusing its strategy on the development of innovative pharmaceuticals and first-to-market generics, and has introduced an innovative anti-cancer medication Endu, a first-to-market medication Sinofuan, and first-to-market generics such as Bicun and Anxin. Simcere manufactures and sells antibiotics, anti-cancer medication and stroke management medication. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, orthopaedics and infectious diseases. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com .


'/>"/>
SOURCE Simcere Pharmaceutical Group
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Simcere Pharmaceutical Group Appoints Dr. Peng Wang as Chief Scientific Officer
2. Simcere Pharmaceutical Group Reports Unaudited First Quarter 2009 Results
3. Simcere Pharmaceutical Group to Announce 2009 First Quarter Earnings on Monday, May 18, 2009
4. Simcere Pharmaceutical Group Reports Unaudited Fourth Quarter and Fiscal Year 2008 Results
5. Simcere Pharmaceutical Group to Announce 2008 Fourth Quarter and Full Year Earnings On Thursday, March 12, 2009
6. Simcere Pharmaceutical Group Announces Preliminary Full Year Revenue and Earnings
7. Simcere Pharmaceutical Group to Participate in Morgan Stanley Seventh Annual Asia Pacific Summit 2008
8. Simcere Pharmaceutical Group Reports Unaudited Third Quarter 2008 Results and Announces Share Repurchase
9. Simcere Pharmaceutical Group to Announce Third Quarter 2008 Earnings on Thursday, November 6, 2008
10. Simcere Pharmaceutical Group Announces Two Senior Promotions and Appointment of New Vice President of Human Resources
11. Simcere Pharmaceutical Group to Announce Second Quarter 2008 Earnings on Tuesday, August 5, 2008
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2016)... ... June 23, 2016 , ... ... the launch of the Supplyframe Design Lab . Located in Pasadena, Calif., ... the future of how hardware projects are designed, built and brought to market. ...
(Date:6/23/2016)... BEACH, Calif. , June 23, 2016  Blueprint ... new biological discoveries to the medical community, has closed ... co-founder Matthew Nunez . "We have ... us with the capital we need to meet our ... will essentially provide us the runway to complete validation ...
(Date:6/23/2016)... Prairie, WI (PRWEB) , ... June 23, 2016 ... ... consultancy focused on quality, regulatory and technical consulting, provides a free webinar ... is presented on July 13, 2016 at 12pm CT at no charge. , ...
(Date:6/22/2016)... 22, 2016 Cell Applications, Inc. and ... to produce up to one billion human induced ... one week. These high-quality, consistent stem cells enable ... and spend more time doing meaningful, relevant research. ... high-volume manufacturing process that produces affordable, reliable HiPSC ...
Breaking Biology Technology:
(Date:5/24/2016)... , May 24, 2016 Ampronix facilitates superior patient care by providing unparalleled ... medical LCD display is the latest premium product recently added to the range of ... ... ... Sony 3d Imaging- LCD Medical Display- Ampronix News ...
(Date:5/12/2016)... , May 12, 2016 WearablesResearch.com ... just published the overview results from the Q1 wave ... the recent wave was consumers, receptivity to a program ... data with a health insurance company. "We ... to share," says Michael LaColla , CEO of ...
(Date:4/28/2016)... SAN FRANCISCO and BANGALORE, India ... part of EdgeVerve Systems, a product subsidiary of Infosys (NYSE: ... service provider, today announced a global partnership that ... convenient way to use mobile banking and payment services. ... Mobility is a key innovation area for financial services, but ...
Breaking Biology News(10 mins):