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SCR: To Acquire Manufacturing License in China for Rosuvastatin (Crestor)

Posted on: Mon, 09 Nov 2009 10:00:00 EST

Symbols: SCR

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Ridgeland, MS, NOV 09, 2009 (EventX/Knobias.com via COMTEX) --
SCR | Quote | Chart | News | PowerRating -- By Fain Hughes, fhughes@knobias.com

Simcere Pharmaceutical Group (SCR) announced an agreement to acquire the manufacturing license in China of Rosuvastatin from Tianjin Tianda Pharmaceutical Co., Ltd. The acquisition of the manufacturing license will be effected through the acquisition of equity in Tianda as well as transfer of certain technologies from Tianda. Rosuvastatin was first marketed by Astrazeneca as Crestor in 2003 and is an effective statin to treat high cholesterol and related conditions.

Upon completion of the acquisition, Simcere will start manufacturing Rosuvastatin.

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For full details on Simcere Pharmaceutical Group (SCR) SCR. Simcere Pharmaceutical Group (SCR) has Short Term PowerRatings at TradingMarkets. Details on Simcere Pharmaceutical Group (SCR) Short Term PowerRatings is available at This Link.

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