Navigation Links
Simcere Pharmaceutical Group Acquires 70% Stake in Wuhu Zhong Ren Pharmaceutical Co. Ltd.
Date:4/21/2008

NANJING, China, April 22 /Xinhua-PRNewswire Simcere Pharmaceutical Group (NYSE: SCR; ''Simcere''), a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, today announced that it has signed a definitive agreement to acquire a 70% equity interest in Wuhu Zhong Ren Pharmaceutical Co. Ltd. for a total cash consideration of RMB64.82 million (US $9.26 million). This transaction is consistent with Simcere's strategy to focus on first-to-market and innovative new drugs and expand its anti-cancer product portfolio.

Zhong Ren Pharmaceutical is a Chinese drug manufacturer specializing in the production of sustained release anti-tumor implants. Its key product SinoFuan (fluorouracil implant), is proven to effectively inhibit the growth of tumors, and is the only sustained release anti-tumor implant approved by the State Food and Drug Administration (SFDA). SinoFuan is commonly used to treat cancers of the digestive tract and is a favored choice for use during surgery. No similar product exists on the Chinese market today. Distribution of SinoFuan through Simcere's established marketing channels will enhance Simcere's offerings in the anti-cancer drug market, benefit cancer patients across China and create greater value for Simcere shareholders.

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group (NYSE:SCR; Simcere) is a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in the rapidly growing China market. In recent years, Simcere has focused its strategy on the development of first-to-market generic and innovative pharmaceuticals, and has introduced a first-to-market generic stroke management medication under the brand name Bicun and an innovative anti-cancer medication under the brand name Endu. Simcere currently manufactures and sells more than 50 pharmaceutical products including antibiotics, anti-cancer medication and stroke management medication and is the exclusive distributor of three additional pharmaceuticals that are marketed under its brand names. 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, osteoporosis and infectious diseases and currently has more than 12 pipeline products. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com .

For more information, please contact:

In China:

Frank Zhigang Zhao

Chief Financial Officer

Simcere Pharmaceutical Group

Tel: +86-25-8556-6666 x8818

Email: zhaozhigang@simcere.com

Kejia Wu

Brunswick Group

Tel: +86-10-6566-4651

Email: kwu@brunswickgroup.com

In Hong Kong:

Joseph Lo Chi-Lun

Brunswick Group

Tel: +852-3512-5033

Email: jlo@brunswickgroup.com

In the United States:

Michael Guerin

Brunswick Group

Tel: +1-212-333-3810

Email: mguerin@brunswickgroup.com


'/>"/>
SOURCE Simcere Pharmaceutical Group
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Simcere Pharmaceutical Group to Announce First Quarter 2008 Earnings on Tuesday, May 6, 2008
2. Simcere Pharmaceutical Group Announces Participation in Brean Murray Carret & Co.s Fourth Investor Tour of China
3. Simcere Pharmaceutical Group Reports Unaudited Fourth Quarter and Fiscal Year 2007 Results
4. Simcere Pharmaceutical Group to Announce Fourth Quarter 2007 Earnings on Tuesday, March 4, 2008
5. Simcere Pharmaceutical Group Reports Third Quarter 2007 Results
6. Simcere Pharmaceutical Group Acquires a 51% Stake in Boda Pharmaceutical Co., Ltd.
7. ISTA Pharmaceuticals Announces Conference Call and Webcast of First Quarter 2008 Financial Results
8. Law Offices of Howard G. Smith Announces 21 Days Remaining to Move to Be a Lead Plaintiff in the Shareholder Lawsuit Against Vertex Pharmaceuticals Inc.
9. Amylin Pharmaceuticals Reports First Quarter Financial Results
10. Complementary Excerpt Available from Best Practices: Resources, Structure and Processes to Optimize Pharmaceutical Sales Communications
11. Best Practice Database: Valuable Strategies for Pharmaceutical Product Launches
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/21/2017)... ... May 21, 2017 , ... Dental visits are often low ... you've seen a dentist, it's time for a dental checkup. The American Dental ... year. , Dental checkups are a relatively easy procedure that involves visually inspecting ...
(Date:5/19/2017)... , ... May 19, 2017 , ... ... health community, Queens University of Charlotte recently began recruitment efforts for the inaugural ... arms students with the skills, knowledge and expertise to approach and address the ...
(Date:5/19/2017)... ... May 19, 2017 , ... When Kyle Busch graduates from Kansas ... already appear on two major research studies that could impact the health of young ... Daggett, KCU alumnus and an orthopedic surgeon, alongside an international team trying to discover ...
(Date:5/19/2017)... (PRWEB) , ... May 19, 2017 , ... The Hill ... to families and entrepreneurs throughout the California Central Valley, is announcing a joint charity ... raising community support for a local kid’s camp event. , The Boys and Girls ...
(Date:5/19/2017)... ... May 19, 2017 , ... ... class of Beckman Young Investigators: , Victor Acosta, Ph.D. - University of New ... Dan Fu, Ph.D. - University of Washington, Erik Grumstrup, Ph.D. - Montana Stata ...
Breaking Medicine News(10 mins):
(Date:5/15/2017)... , May 15, 2017  Amy Baxter MD, ... industry leader in noninvasive pain relief, was awarded a ... magazine. Baxter was recognized at the MM&M Top ... New York City on May 10, 2017. ... the biopharma industry go "beyond the pill."  ...
(Date:5/12/2017)... , May 12, 2017  The China and Canada ... technology that consumes less water, energy and detergent, and features a ... product LaughingU, a shoebox-sized washing machine that washes and sanitizes women,s ... ... LaughingU, is compact, and does not require an external water inlet. ...
(Date:5/10/2017)... -- Hologic, Inc. (Nasdaq: HOLX ) announced ... quarter ended April 1, 2017 .   GAAP diluted ... to the prior year period as the sale of ... while non-GAAP diluted EPS of $0.50 increased 6.4%.  Revenue ... currency terms.  Excluding the effects of blood screening and ...
Breaking Medicine Technology: