Simcere Pharmaceutical Group (NYSE: SCR) have entered an agreement to acquire a 74.49% stake in ChinaVax. ChinaVax holds a 13.27% stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd. Following the completion of the acquisition, and together with a 37.5% stake in Jiangsu Yanshen acquired in May 2009, Simcere will control a 50.77% stake in Jiangsu Yanshen.
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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.
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