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Simcere Buys 35% Stake of Antibody Company, Announces Q1 Results

publication date: May 19, 2009

Simcere Pharmaceutical Group (先声药业) disappointed investors with its Q1 financial report. The company announced revenues of $64.8 million, a 12% increase from the year earlier, but $5 million less than the average analyst forecast. Net income was $7.1 million, a 57% decrease from 2008. At the same time, Simcere said it will acquire 35% of Shanghai Celgen Bio-Pharmaceutical Co., Ltd. for 140 million RMB ($20.6 million), a company that focuses on research and production of therapeutic antibodies. More details...

Stock Symbol: (NYSE: SCR)



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