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

9 was 9.9% as compared to 24.9% for the same period in 2008.

Basic and diluted earnings per American Depository Share ("ADS") for the second quarter of 2009 were RMB0.64 (US$0.09) and RMB0.63 (US$0.09) respectively. Basic and diluted earnings per ADS for the first six months of 2009 were RMB1.44 (US$0.21) and RMB1.43 (US$0.21) respectively. One ADS represents two ordinary shares of the Company.

As of June 30, 2009, the Company had cash, cash equivalents and restricted cash of RMB636.3 million (US$93.2 million), compared to RMB813.8 million as of December 31, 2008.

Share Repurchase Program

In November 2008, the Company's board of directors authorized a share repurchase program, under which the Company may repurchase up to US$50.0 million of issued and outstanding ADSs from the open market or in block trades. As of June 30, 2009, 5.8 million ADSs have been repurchased. The Company will continue to repurchase issued and outstanding ADSs depending on market conditions, the trading price of its ADSs and other factors.

In addition to the share repurchase program announced in November 2008, the board of directors has approved a new share repurchase program. Under the terms of the new share repurchase program, Simcere Pharmaceutical Group may purchase up to US$50 million worth of its issued and outstanding ADSs. The repurchases will be made from time to time on the open market at prevailing market prices or in block trades and subject to restrictions relating to volume, price and timing. The Company may effect buyback transactions pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The timing and extent of any purchases will depend upon market conditions, the trading price of its ADSs and other factors. The Company expects to implement this share repurchase program in a manner consistent with market conditions and the interest of the shareholders. The Co
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SOURCE Simcere Pharmaceutical Group
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