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Fosun Pharma Buys 6.5% Stake in Simcere for $30 Million

publication date: Nov 11, 2011
Shanghai Fosun Pharma has purchased a 6.5% stake in Simcere Pharmaceutical, paying $30.3 million to buy 3.48 million of Simcere’s ADRs in open market transactions.Fosun has a history of buying stakes in US-listed China biopharmas. In 2009-10, Fosun slowly amassed a 32% stake in Tongjitang Chinese Medicine Company, another NYSE company. Then, Fosun and Tongjitang’s CEO/Chairman took the entire company private in November of last year. More details....

Stock Symbols: (SHA: 600196) (NYSE: SCR)

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