Simcere Pharmaceutical Group to Acquire China Manufacturing License for
Rosuvastatin
Marks significant advance in Simcere's portfolio of cardiovascular drugs
NANJING, China, Nov. 9 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group
(NYSE: SCR) ("Simcere" or the "Company"), a leading pharmaceutical company
specializing in the development, manufacturing, and marketing of branded
generic and proprietary pharmaceuticals in China, today announced an agreement
to acquire the manufacturing license in China of Rosuvastatin from Tianjin
Tianda Pharmaceutical Co., Ltd. ("Tianda"). 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.
Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere
Pharmaceutical Group commented on the agreement, "We are delighted to join
forces with Tianda to manufacture Rosuvastatin in China. Rosuvastatin has huge
market potential and we believe that with our marketing expertise we can help
more heart disease patients in China benefit from this drug."
Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "anticipate," "believe,"
"estimate," "expect," "forecast," "intend," "may," "plan," "project,"
"predict," "should" and "will" and similar expressions. These forward looking
statements are based upon management's current views and expectations with
respect to future events and are not a guarantee of future performance.
Furthermore, these statements are, by their nature, subject to a number of
risks and uncertainties that could cause actual performance and results to
differ materially from those discussed in the forward-looking statements as a
result of a number of factors. Further information regarding these and other
risks is included in Simcere's filings with the U.S. Securities and Exchange
Commission at http://www.sec.gov . Simcere does not undertake any obligation
to update any forward-looking statement, except as required under applicable
law.
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 anti-infective medication, anti-cancer medication and stroke management
medication. 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 .
SOURCE Simcere Pharmaceutical Group
Investor and Media Contacts: ir@simcere.com; In Nanjing: Frank Zhao, Chief
Financial Officer of Simcere Pharmaceutical Group, +86-25-8556-6666 x8818; In
the United States: Kate Tellier of Brunswick Group, +1-212-333-3810; In
Beijing: Ruirui Jiang of Brunswick Group, +86-10-6566-2256; In Hong Kong:
Joseph Lo Chi-Lun of Brunswick Group, +852-3512-5000
