Simcere Pharmaceutical Group to Acquire China Manufacturing License for Rosuvastatin

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