Navigation Links
Simcere Pharmaceutical Group Announces Receipt of "Going Private" Proposal
Date:3/11/2013

NANJING, China, March 11, 2013 /PRNewswire/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced that its Board of Directors has received a non-binding proposal letter from Mr. Jinsheng Ren , New Good Management Limited, Assure Ahead Investments Limited and its affiliates (the "Buyer Group"), pursuant to which the Buyer Group proposes to acquire all of the outstanding ordinary shares of the Company not currently owned by the Buyer Group, for $9.56 per American Depositary Share ("ADS") or $4.78 per ordinary shares in cash. New Good Management Limited is a British Virgin Islands company controlled by Mr. Jinsheng Ren , Chairman of the Board of Directors of the Company.

According to the proposal letter, which is dated March 11, 2013, the Buyer Group will form a transaction vehicle for the purpose of pursuing the proposed transaction, which is intended to be financed with a combination of debt and equity capital.

The Company's Board of Directors has formed a special committee of independent directors (the "Special Committee") consisting of Alan Au and Guoqiang Lin to consider the proposed transaction. The Special Committee has appointed Alan Au as its chairman. The Special Committee intends to retain advisors, including an independent financial advisor and legal counsel, to assist it in its work.  No decisions have been made by the Special Committee with respect to the Company's response to the proposed transaction. There can be no assurance that any definitive offer will be made, that any agreement will be executed or that this or any other transaction will be approved or consummated.

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China. 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, cardiovascular disease, infectious diseases and pain. For more information about Simcere Pharmaceutical Group, please visit www.simcere.com.

Investor and Media Contacts:

Email: ir@simcere.com

In Nanjing:

Jie Liu D'Elia

Vice President

Simcere Pharmaceutical Group

Tel: 86-25-8556-6666*8857

In the United States:

Cindy Zheng

Brunswick Group LLC

Tel: 1-212-333-3810

 



In Beijing:

Yue Yu

Brunswick Group

Tel: 86-10-5960-8600



'/>"/>
SOURCE Simcere Pharmaceutical Group
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Simcere Pharmaceutical Group Reports Preliminary Unaudited Fourth Quarter And Full Year 2012 Results
2. Simcere Pharmaceutical Group to Announce Fourth Quarter and Fiscal Year 2012 Financial Results on Thursday, March 7, 2013
3. Simcere Pharmaceutical Group Announces Sale of Equity Interest in Shanghai Celgen
4. Simcere Pharmaceutical Group Reports Preliminary Unaudited Third Quarter 2012 Results
5. Simcere Pharmaceutical Group to Announce Third Quarter 2012 Financial Results on Thursday, November 15, 2012
6. Simcere Pharmaceutical Group Announces Appointment of New Chief Executive Officer
7. Simcere Pharmaceutical Group Reports Preliminary Unaudited Second Quarter 2012 Results
8. Simcere Pharmaceutical Group to Announce Second Quarter 2012 Financial Results on Friday, August 10, 2012
9. Simcere Pharmaceutical Group Provides Notice of Annual General Meeting
10. Simcere Pharmaceutical Group to Announce First Quarter 2012 Financial Results on Wednesday, May 9, 2012
11. OncoGenex Pharmaceuticals, Inc. Provides Update on Clinical Development Program and Reports Financial Results for Fourth Quarter and Year End 2012
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/3/2017)... WAYNE, N.J. , May 3, 2017 /PRNewswire/ ... systems that contribute to quality enhancement and cost ... results from a study of contemporary practice demonstrating ... a first-line therapy for critically ill patients. The ... the Company,s newer large volume MEGA ® ...
(Date:5/2/2017)... YORK and LONDON , ... of market intelligence, MarketResearch.com is pleased to announce a ... AB that allows for the marketing and distribution ... analyses through the MarketResearch.com website. The new ... to complete product descriptions and tables of contents from ...
(Date:5/2/2017)... , May 2, 2017  CIVCO Radiotherapy, the ... solutions, announced today that Nat Geissel ... CIVCO since 2012 and has served as vice ... vice president and general manager, and most recently, ... "I am extremely proud of what CIVCO Radiotherapy ...
Breaking Medicine Technology:
(Date:5/24/2017)... ... 2017 , ... If you are thinking of a visit to San Francisco , fall ... the perfect time to visit. , Business Architecture Associates is pleased to offer 5 days ... as a 4-½ day package for individuals, and as 4-½ day corporate package for up ...
(Date:5/24/2017)... Chicago, IL (PRWEB) , ... May 24, 2017 ... ... of the most prominent for-profit and nonprofit hospitals and health systems in the ... have turned around their institutions, led professional organizations and been instrumental in developing ...
(Date:5/24/2017)... Shoreview, MN (PRWEB) , ... May 24, 2017 ... ... manufacturer of polyvinylidene fluoride (PVDF) based sleep diagnostics sensors, announced today it had ... network now consists of a mix of domestic and rest of world (ROW) ...
(Date:5/23/2017)... ... ... Allegheny Health Network and the Alexis Joy D’Achille Foundation ... at West Penn Hospital , a unique facility that will offer the most ... Construction of the Center is underway with a scheduled opening in the fall of ...
(Date:5/23/2017)... ... , ... New England Journal Of Medicine Confirms Viability of Rory’s Regulations and ... Staunton Foundation Calls on Health & Human Services, Tom Price to Adopt Rory’s Regulations ... today reported on a new study released on May 21, 2017 in the New ...
Breaking Medicine News(10 mins):