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Simcere Pharmaceutical Group Reports Unaudited Fourth Quarter and Fiscal Year 2010 Results
Date:3/8/2011

airment charge of RMB76.4 million and an equity loss of RMB55.6 million associated with the acquisition of Jiangsu Yanshen.  Accordingly, the unaudited financial data of the fourth quarter 2009 were adjusted in the financial statements for the year ended December 31, 2009 filed in the Form 20-F on June 30, 2010 to reflect the revised purchase price allocation in respect of the acquisition of Jiangsu Yanshen in 2009.

"During the fourth quarter, Simcere's revenue and net income continued the stable growth trend of the previous three quarters, and we were especially encouraged by Endu's sales performance," said Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group. "Highlighting the success of Simcere's R&D efforts, during the year, we filed four clinical trial applications with the SFDA."

Mr. Ren added, "Looking ahead, we believe that China's fast-developing pharmaceutical market combined with Simcere's established and expanding national sales force and our growing product portfolio should help drive sustainable development in 2011 and beyond."

2010FourthQuarter Financial Results Total revenue for the fourth quarter of 2010 was RMB587.7 million (US$89.1 million), which represented an increase of 7.6% from RMB546.5 million for the same period in 2009. For the full year of 2010, total revenue was RMB2,141.1 million (US$324.4 million), which represented an increase of 15.3% from RMB1,857.1 million for the full year of 2009.

Revenue from edaravone injection products under the brand names Bicun and Yidasheng totaled RMB222.4 million (US$33.7 million) for the fourth quarter of 2010, which was 37.9% of the Company's product revenue for the fourth quarter of 2010, an increase of 5.1% from RMB211.7 million for the same period in 2009. For the full year of 2010, revenue from Bicun and Yidasheng totaled RMB791.9 million (US$120.0 mill
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SOURCE Simcere Pharmaceutical Group
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