NANJING, China, Oct. 29 Simcere Pharmaceutical Group(NYSE: SCR) ("Simcere" or the "Company"), a leading pharmaceutical companyspecializing in the development, manufacturing, and marketing of brandedgeneric and proprietary pharmaceuticals in China, today announced that it hasentered into an agreement to acquire a 74.49% stake in ChinaVax, a CaymanIslands company that, as its sole business, holds a 13.27% stake in JiangsuYanshen Biological Technology Stock Co., Ltd. ("Jiangsu Yanshen"). After thecompletion of this acquisition, and together with a 37.5% stake in JiangsuYanshen acquired in May 2009, Simcere will control a 50.77% stake in JiangsuYanshen.
"China's emerging vaccine industry has shown strong growth potential. Weare delighted to make this additional investment in Jiangsu Yanshen, followingour acquisition of a 37.5% stake earlier this year," commented Mr. JinshengRen, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group."This investment is in line with Simcere's mid-to-long-term strategy anddemonstrates Simcere's continuing progress in China's vaccine industry."
Located in Changzhou, Jiangsu Province, Jiangsu Yanshen is a leadingChina-based developer and manufacturer of vaccines. Jiangsu Yanshen wasawarded a new drug certificate and production license from China's State Foodand Drug Administration (SFDA) on September 18, 2009 for its Influenza A (H1N1)vaccine. Jiangsu Yanshen has subsequently received orders from China'sMinistry of Industry and Information Technology for 6.3 million doses of theInfluenza A (H1N1) vaccine.
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About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE: SCR, Simcere) is a leadingpharmaceutical company specializing in the development, manufacturing, andmarketing of branded generic and proprietary pharmaceuticals in China. Inrecent years, Simcere has been focusing its strategy on the development ofinnovative pharmaceuticals and first-to-market generics, and has introduced aninnovative anti-cancer medication Endu, a first-to-market medication Sinofuan,and first-to-market generics such as Bicun and Anxin. Simcere manufacturesand sells anti-infective medication, anti-cancer medication and strokemanagement medication. Simcere concentrates its research and developmentefforts on the treatment of diseases with high incidence and/or mortalityrates and for which there is a clear demand for more effective pharmacotherapysuch as cancer, strokes, orthopaedics and infectious diseases. For moreinformation about Simcere Pharmaceutical Group, please visithttp://www.simcere.com .
SOURCE Simcere Pharmaceutical Group