NANJING, China, April 22 /Xinhua-PRNewswire Simcere Pharmaceutical Group (NYSE: SCR; 'Simcere'), a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, today announced that it has signed a definitive agreement to acquire a 70% equity interest in Wuhu Zhong Ren Pharmaceutical Co. Ltd. for a total cash consideration of RMB64.82 million (US $9.26 million). This transaction is consistent with Simcere's strategy to focus on first-to-market and innovative new drugs and expand its anti-cancer product portfolio.
Zhong Ren Pharmaceutical is a Chinese drug manufacturer specializing in the production of sustained release anti-tumor implants. Its key product SinoFuan (fluorouracil implant), is proven to effectively inhibit the growth of tumors, and is the only sustained release anti-tumor implant approved by the State Food and Drug Administration (SFDA). SinoFuan is commonly used to treat cancers of the digestive tract and is a favored choice for use during surgery. No similar product exists on the Chinese market today. Distribution of SinoFuan through Simcere's established marketing channels will enhance Simcere's offerings in the anti-cancer drug market, benefit cancer patients across China and create greater value for Simcere shareholders.
About Simcere Pharmaceutical Group Simcere Pharmaceutical Group (NYSE:SCR; Simcere) is a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in the rapidly growing China market. In recent years, Simcere has focused its strategy on the development of first-to-market generic and innovative pharmaceuticals, and has introduced a first-to-market generic stroke management medication under the brand name Bicun and an innovative anti-cancer medication under the brand name Endu. Simcere currently manufactures and sells more than 50 pharmaceutical products including antibiotics, anti-cancer medication and stroke management medication and is the exclusive distributor of three additional pharmaceuticals that are marketed under its brand names. 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, osteoporosis and infectious diseases and currently has more than 12 pipeline products. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com/ .
For more information, please contact: In China:
Frank Zhigang Zhao
Chief Financial Officer
Simcere Pharmaceutical Group
Tel: +86-25-8556-6666 x8818
Email: Kejia Wu
Brunswick Group
Tel: +86-10-6566-4651
Email: In Hong Kong:
Joseph Lo Chi-Lun
Brunswick Group
Tel: +852-3512-5033
Email: In the United States:
Michael Guerin
Brunswick Group
Tel: +1-212-333-3810
Email: DATASOURCE: Simcere Pharmaceutical Group CONTACT: In China, Frank Zhigang Zhao, Chief Financial Officer of Simcere Pharmaceutical Group, +86-25-8556-6666 x8818, or , or Kejia Wu, +86-10-6566-4651, or , or in Hong Kong, Joseph Lo Chi-Lun, +852-3512-5033, or , or in the United States, Michael Guerin, +1-212-333- 3810, or , all of Brunswick Group, for Simcere Web Site: http://www.simcere.com/
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