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Simcere Pharmaceutical Group Reports Unaudited Second Quarter 2009 Results and Announces Share Repurchase
Date:8/17/2009

nal growth during the quarter.

"Looking forward, we will continue efforts to build our sales force as we invest in sales, marketing and R&D to support Simcere's middle-and-long-term sustainable growth," Mr. Ren continued.

In the second quarter, Simcere completed the acquisition of a 37.5% stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd., a China-based developer and manufacturer of vaccines. Also, Shanghai Celgen Bio-Pharmaceutical Co., Ltd. ("Shanghai Celgen"), in which Simcere entered into a share purchase agreement to acquire an approximately 35% equity interest in May 2009, is preparing for the launch of its major biogeneric etanercept drug, which is waiting for approval from the PRC State Food and Drug Administration ("SFDA"). The acquisition of Shanghai Celgen is expected to be completed in the third quarter this year.

2009 Second Quarter Financial Results

Total revenue for the second quarter of 2009 was RMB424.4 million (US$62.1 million), which represented a decrease of 2.7% from RMB436.2 million for the same period in 2008. For the first six months of 2009, total revenue was RMB866.9 million (US$126.9 million), representing an increase of 4.3% from RMB830.8 million for the same period in 2008.

Revenue from Endu, the Company's patented anti-cancer biotech product, amounted to RMB32.1 million (US$4.7 million) in the second quarter of 2009, which was 7.6% of the Company's product revenue for the second quarter of 2009 and represented a decrease of 49.1% from RMB63.1 million for the same period in 2008. For the first six months of 2009, revenue from Endu totaled RMB68.6 million (US$10.0 million), which represented a decrease of 45.9% from RMB126.9 million for the same period in 2008.

Revenue from edaravone injection products under the brand names Bicun and Yidasheng totaled RMB183.0 million (US$26.8 million) for the second quarter of 2009,
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SOURCE Simcere Pharmaceutical Group
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