Simcere Pharmaceutical Group to Acquire Additional Stake in Jilin Boda Pharmaceutical Co. Ltd
Simcere to control a 90% stake in Boda
NANJING, China, June 7, 2010 /PRNewswire via COMTEX/ --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 announced that it has entered into an agreement to acquire an 80% stake in Xiangao Investment Company Ltd, an investment company registered in China, as its sole business, holds a 49% stake in Jilin Boda Pharmaceutical Co. Ltd. ("Boda"). After the completion of this acquisition, Simcere will control a 90% stake in Boda.
Boda is a fast-growing manufacturer of injectable stroke management medication. Simcere currently holds a 51% stake in Boda through an acquisition made in September 2007. This additional acquisition further demonstrates Simcere's progress in the field of cardiovascular and cerebrovascular medications.
About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China. In recent years, Simcere has been focusing its strategy on the development of innovative pharmaceuticals and first-to-market generics, and has introduced an innovative anti-cancer medication Endu, a first-to-market medication Sinofuan, and first-to-market generics such as Bicun and Anxin. Simcere manufactures and sells antibiotics, anti-cancer medication, stroke management medication and biopharmaceutical drugs such as vaccines. 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, orthopaedics and infectious diseases. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com .
For more information, please contact:
Investor and Media Contacts:
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Chief Financial Officer
Simcere Pharmaceutical Group
Tel: +86-25-8556-6666 x8818
In the United States:
In Hong Kong:
Joseph Lo Chi-Lun
SOURCE Simcere Pharmaceutical Group