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The Week In China: Simcere Pharma Files for American IPO

publication date: Mar 26, 2007
Developments In East-West Pharma Simcere Pharma, which makes generic drugs for the Chinese market, filed for an IPO that could raise up to $120 million. The company intends to list shares on the NYSE under the symbol SCR. In 2006, Simcere earned a profit of $22 million on $122 million of revenue. Compared to the prior year, profits rose almost 70% on a 25% increase in revenue. The company makes 35 pharmaceutical products at the moment, though it has approval to manufacture 100 other products. More details...


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