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Simcere Pharmaceutical Group Reports Unaudited Second Quarter 2008 Results
Date:8/5/2008

and the first six months of 2008 due to the disruption to sales activities resulting from the restructuring of Endu's sales force. In addition, the Company has offered a greater than anticipated volume of Endu for free to existing and new patients to accelerate participation in Endu's Phase IV clinical studies, resulting in fewer products being sold at the regular price.

Also, revenue from Yidasheng for the second quarter and the first six months of 2008 was lower than expected as the Company did not proceed with the planned transition of Yidasheng from the agency-sales model to Bicun's sales model. Under Yidasheng's current agency-sales model, sales and marketing activities and corresponding expenses are the responsibility of the sales agents; accordingly, the sales agents are offered a lower price than under Bicun's sales model, in which Simcere is responsible for product sales and marketing. Because Simcere does not incur corresponding marketing and sales costs under Yidasheng's agency-sales model, Simcere's net profit for the quarter was not impacted by the lower than expected Yidasheng revenue.

Due to the reasons cited above, the Company has adjusted its targeted total revenue for the full year of 2008; targeted net income for the full year of 2008 has not changed.

2008 Second Quarter Financial Results

Total revenue for the second quarter of 2008 was RMB436.2 million (US$63.6 million), representing a growth of 30.4% from RMB334.5 million for the same period in 2007. For the first six months of 2008, total revenue was RMB830.8 million (US$121.1 million), representing an increase of 28.5% from RMB646.7 million for the same period in 2007.

Revenue from Endu, the Company's patented anti-cancer pharmaceutical launched in July 2006, totaled RMB63.1 million (US$9.2 million) in the second quarter of 2008, an increase of 4.6% compared to RMB60.3 million in the corresponding period in 2007. For the first six months of 2008, revenue fro
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SOURCE Simcere Pharmaceutical Group
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