Cancer
Simcere Pharmaceutical Group Acquires 70% Stake in Wuhu Zhong Ren Pharmaceutical Co. Ltd.
Published in Medical Letter on the CDC and FDA, May 11th, 2008
cere Pharmaceutical Group (NYSE: SCR; ''Simcere''), a leading manufacturer and supplier of branded generic pharmaceuticals and manufacturer of the patented anti-cancer biotech product Endu in China, announced that it has signed a definitive agreement to acquire a 70% equity interest in Wuhu Zhong Ren Pharmaceutical Co. Ltd. for a total cash consideration of RMB64.82 million (US $9.26 million). This transaction is consistent with Simcere's strategy to focus on first-to-market and innovative new drugs and expand its anti-cancer product portfolio.
Zhong Ren Pharmaceutical is a Chinese drug manufacturer specializing in the production of sustained release anti-tumor...
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