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Simcere controls Yanshen to enter into China's vaccine market

Posted on: Tue, 10 Nov 2009 04:08:00 EST

Symbols: SCR

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BEIJING, Nov 10, 2009 (Xinhua via COMTEX) --
SCR | Quote | Chart | News | PowerRating -- Simcere Pharmaceutical Group
(SCR.NYSE) announced that it has held a controlling 50.77 percent
stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd. by
acquiring a 74.49 percent stake in Jiangsu Yanshen's shareholder
ChinaVax, a Cayman Islands company.
Before the deal, Simcere owned 37.5 percent shares of Jiangsu
Yanshen, which were acquired in May 2009 for nearly 200 million yuan.

Financial details of the latest deal were unknown.

Jiangsu Yanshen is a leading China-based developer and
manufacturer of vaccines. It was awarded a new drug certificate and
production license from China's State Food and Drug Administration
(SFDA) on September 18, 2009 for its Influenza A (H1N1) vaccine.

From then on, Jiangsu Yanshen has subsequently received orders
from China's Ministry of Industry and Information Technology for 6.3
million doses of the Influenza A (H1N1) vaccine.

Ren Jinsheng, Chairman and Chief Executive Officer of Simcere
Pharmaceutical Group commented, "We are delighted to make this
additional investment in Jiangsu Yanshen, following our acquisition
of a 37.5 percent stake earlier this year. This transaction is
consistent with Simcere's mid-to-long-term strategy and demonstrates
Simcere's substantial progress in China's vaccine industry. "

Simcere Pharmaceutical Group 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.

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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