Simcere Pharmaceutical Group Acquires 70% Stake in Wuhu Zhong Ren Pharmaceutical Co. Ltd.

Share Name	Share Symbol	Market	Type
Scor SE	EU:SCR	Euronext	Ordinary Share

Share Name

Share Symbol

Market

Type

Scor SE

EU:SCR

Euronext

Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	-1.96	-6.09%	30.22	29.72	30.56	30.60	28.12	29.76	2,333,740	16:40:00

Price Change

% Change

Share Price

Bid Price

Offer Price

High Price

Low Price

Open Price

Shares Traded

Last Trade

-1.96

-6.09%

30.22

29.72

30.56

30.60

28.12

29.76

2,333,740

16:40:00

Simcere Pharmaceutical Group Acquires 70% Stake in Wuhu Zhong Ren Pharmaceutical Co. Ltd.

22/04/2008 8:31am

PR Newswire (US)

Scor (EU:SCR)
Historical Stock Chart

From May 2019 to May 2024

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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