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Article: Simcere Pharmaceutical Group to Acquire Additional Stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd.
- Article from:
- Vaccine Weekly
- Article date:
- November 11, 2009
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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, announced that it has entered into an agreement to acquire a 74.49% stake in ChinaVax, a Cayman Islands company that, as its sole business, holds a 13.27% stake in Jiangsu Yanshen Biological Technology Stock Co., Ltd. ("Jiangsu Yanshen"). After the completion of this 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 (see also Pharmaceuticals).
"China's ...