Simcere Pharmaceutical Buys Stake In Antitumor Firm
This article was originally published in PharmAsia News
Simcere Pharmaceutical has announced that it is paying 64.82 million yuan ($9.2 million) to buy 70 percent stake in Anhui Zhongren Pharmaceutical, its third acquisition since listing in the U.S. last year. Anhui Zhongren specializes in the production of antitumor implant agents and is the developer of an innovative sustained-release fluorouracil implant that is unique in the market. One of Simcere's key strategies is to concentrate on core product acquisition and expansion; its latest purchase will enrich the firm's antitumor product portfolio as well as consolidate its leading position in the field. Company officials disclosed that some 800 million yuan ($114 million) has been allocated for future acquisitions. (Click here for more - Chinese language)
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