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ShangPharma Purchases Shanghai In-vivo Drug Research Facility from Charles River
Date:10/24/2011

"This acquisition from Charles River should support accelerated growth in ShangPharma's biology, preclinical development and biologics services for the next several years," added William Dai, ShangPharma's Chief Financial Officer. "ShangPharma's strong cash position has enabled us to make this strategic investment, which we expect will provide excellent returns and maximize shareholder value."

Financial terms of the deal, which is subject to customary closing conditions, were not announced.

ABOUT SHANGPHARMA CORPORATION

ShangPharma Corporation is a leading China-based contract research organization providing high-quality and cost-effective services for the pharmaceutical and biotechnology industry. It offers a broad range of high-quality, integrated services across the drug discovery and development process to help international and Chinese pharmaceutical and biotechnology companies discover and develop novel drug candidates efficiently. ShangPharma's services consist of discovery chemistry, discovery biology and preclinical development, pharmaceutical development and biologics services. For more information, please visit www.shangpharma.com.

For further information, please contact:  

ShangPharma
Ms. Lan Xie
VP of Finance and Investor Relations
Email: ir@shangpharma.com

Brunswick Group
Josh Gartner
Email: shangpharma@brunswickgroup.com
Phone: 86-10-5960-8600


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SOURCE ShangPharma Corporation
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