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Simcere Makes Cancer Acquisition; Misses on Revenue

publication date: Nov 26, 2007

Simcere Pharmaceutical extended its cancer therapeutic offerings by paying 32.6 million RMB ($4.4 million) to buy 86% of Nanjing Tung Chit Pharmaceutical Co., Ltd. (Tung Chit). Tung Chit makes and markets Jiebaisu, a first-to-market platinum-based nedaplatin injection. The acquisition adds to Simcere's anti-cancer franchise as Simcere already markets Endu, an endostatin cancer drug with an anti-angiogenesis mechanism.  Separately, Simcere released its third quarter financials, reporting a 45% increase of revenue, which was slightly below expectations.  More details... 

Stock Symbol: (NYSE: SCR)  



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