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Simcere Pharmaceutical Group Reports Preliminary Unaudited Second Quarter 2013 Results
Date:8/13/2013

NANJING, China, Aug. 13, 2013 /PRNewswire/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China, today reported preliminary unaudited financial results for the quarter ended June 30, 2013.

Highlights

Revenue from continuing operations for the second quarter of 2013 was RMB483.0 million (US$78.7 million), a decrease of 3.0% compared to RMB498.1 million for the same period in 2012. Revenue from continuing operations for the first six months of 2013 was RMB986.9 million (US$160.8 million), an increase of 2.9% from RMB959.1 million for the same period in 2012.

Gross margin from continuing operations for the second quarter of 2013 decreased to 83.1% compared to 84.5% for the same period in 2012. For the first six months of 2013, gross margin decreased to 81.5% compared to 83.8% for the same period in 2012.

Operating income from continuing operations was RMB10.7 million (US$1.7 million) for the second quarter of 2013, a decrease of 67.5% from RMB33.0 million for the same period in 2012. Operating income from continuing operations was RMB52.3 million (US$8.5 million) for the first six months of 2013, a decrease of 27.3% from RMB72.0 million for the same period in 2012.

Net income attributable to Simcere was RMB22.7 million (US$3.7 million) for the second quarter of 2013, a decrease of 15.7% from RMB27.0 million for the same period in 2012. Net income attributable to Simcere was RMB52.7 million (US$8.6 million) for the first six months of 2013, a decrease of 5.2% from RMB55.6 million for the same period in 2012.

Net income attributable to Simcere from continuing operations for the second quarter of 2013 w
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SOURCE Simcere Pharmaceutical Group
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