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Simcere Pharmaceutical Group Reports Unaudited Fourth Quarter and Full Year 2011 Results
Date:3/7/2012

NANJING, China, March 7, 2012 /PRNewswire-Asia/ -- 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 unaudited financial results for the fourth quarter and full year ended December 31, 2011.

Highlights

  • Total revenue was RMB511.0 million (US$81.2 million) for the fourth quarter of 2011, compared to RMB587.7 million for the same period in 2010. For the full year of 2011, total revenue was RMB2,040.5 million (US$324.2 million), which represented a decrease of 4.7% from RMB2,141.1 million in 2010.
  • Income from operations was RMB1.6 million (US$0.3 million) for the fourth quarter of 2011, compared to RMB62.8 million for the same period in 2010. For the full year of 2011, income from operations was RMB143.5 million (US$22.8 million), which represented a decrease of 34.1% from RMB217.9 million in 2010.
  • Net income attributable to Simcere was RMB42.8 million (US$6.8 million) for the fourth quarter of 2011, compared to RMB58.7 million for the same period in 2010. For the full year of 2011, net income was RMB178.4 million (US$28.3 million), which represented an increase of 3.5% from RMB172.4 million in 2010.
  • Gross margin for the fourth quarter of 2011 was 82.3%, compared to 84.1% for the same period in 2010. For the full year of 2011, gross margin was 83.9%, a decrease from 84.0% in 2010. 
  • "2011 was a challenging year for Simcere," commented Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group. "Factors including changes in certain provincial tendering processes as well as government pricing policies nega
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    SOURCE Simcere Pharmaceutical Group
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