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Simcere Warns that 2008 Net Income Will Miss Forecast By 10%

publication date: Jan 12, 2009

Simcere Pharmaceutical Group (先声药业) announced that, according to preliminary figures, the company’s full-year 2008 revenue was 1.72 billion RMB ($252 million). That is up 24% over 2007, but at the low end of its previously announced 1.7 billion to 1.8 billion RMB estimated range. A more negative note is that net income will be about 10% below the forecast, which was 390 million RMB to 400 million RMB. This indicates earnings of about 355 million RMB ($52 million), only an 18% improvement over 2007. More details...

Stock Symbol: (NYSE: SCR)



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