Simcere Pharmaceutical Group (先声药业), which makes both branded generic pharmaceuticals and the anti-angiogenesis cancer drug Endu, reported Q4 revenues climbed 17% to 467 million RMB ($68.4 million), but net income fell 34% to 52 million RMB ($7.6 million). Simcere did not attribute the net income shortfall to any particular cause. Although expenses were higher in all categories, most of the increases in each category were more or less in line with the rise in revenues. The only dramatic increase was in R&D spending, which was up 114% to 34.0 million RMB ($5.0 million).

Stock symbol: (NYSE: SCR)