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

tively impacted full year sales of Zailin and our edaravone products. We were encouraged, however, by the solid full year performance of our oncology drugs Endu, Sinofuan and Jiebaishu, as well as the strong sales growth of our new antibiotic drug Anxin."

Mr. Ren added, "Looking forward, we plan to allocate more sales resources to oncology drugs and new products. We are pleased that we began to sell Iremod, our new Category I Disease Modifying Anti-rheumatic Drug, in the first quarter of 2012. We believe that both Iremod and Qiangke, Shanghai Celgen's Recombinant Human TNF Receptor-IgG Fusion Protein for Injection, have exciting market potential in China."

Simcere holds a 35% equity interest in Shanghai Celgen Bio-Pharmaceutical Co., Ltd.

Compound Edaravone Injection, a new drug being developed by Simcere, received clinical studies approval in February 2012 from the State Food and Drug Administration. Simcere expects to begin Phase I clinical trials of Compound Edaravone Injection in China during the first quarter of 2012. Simcere previously completed Phase I clinical trials of Compound Edaravone Injection in Australia.

2011 Fourth Quarter and Full Year Financial Results Total revenue for the fourth quarter of 2011 was RMB511.0 million (US$81.2 million), 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.

Revenue from edaravone injection products under the brand names Bicun and Yidasheng totaled RMB172.3 million (US$27.4 million) for the fourth quarter of 2011, which was 33.7% of the Company's total revenue for the fourth quarter of 2011, and represented a decrease of 22.5% from RMB222.4 million for the same period in 2010. The decrease was primarily due to factors including the negative impact of changes to the tender process in cer
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SOURCE Simcere Pharmaceutical Group
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