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Simcere Pharmaceutical Group Announces Sale of Equity Interest in Shanghai Celgen

Tuesday, January 22, 2013 5:00 AM


NANJING, China, Jan. 22, 2013 /PRNewswire/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced that the Company entered into a share transfer agreement with Devont Asset Management Limited on January 15th 2013 to sell an approximately 35% equity interest in Shanghai Celgen Bio-Pharmaceutical Co., Ltd. ("Shanghai Celgen") for a cash consideration of RMB 302 million. Simcere indirectly acquired an approximately 35% equity interest in Shanghai Celgen in August 2009. Upon completion of this transaction, Simcere will no longer hold any equity interest in Shanghai Celgen. Consummation of the transaction is subject to certain closing conditions.  

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China. 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, cardiovascular disease, infectious diseases and pain. For more information about Simcere Pharmaceutical Group, please visit www.simcere.com.

Investor and Media Contacts:

Email: ir@simcere.com

In Nanjing:

In the United States:

Jie Liu D'Elia

Carly Westerman

Vice President

Brunswick Group LLC

Simcere Pharmaceutical Group

Tel: 1-415-671-7676

Tel: 86-25-8556-6666*8857




In Beijing:

In Hong Kong:

Yue Yu

Joseph Lo Chi-Lun

Brunswick Group

Brunswick Group

Tel: 86-10-5960-8600

Tel: 852-3512-5000

SOURCE Simcere Pharmaceutical Group

(Source: PR Newswire )
(Source: Quotemedia)

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