Simcere Pharmaceutical Group Announces Sale of Equity Interest in Shanghai Celgen

  Simcere Pharmaceutical Group Announces Sale of Equity Interest in Shanghai
                                    Celgen

PR Newswire

NANJING, China, Jan. 22, 2013

NANJING, China, Jan. 22, 2013 /PRNewswire/ --Simcere Pharmaceutical Group
("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company
specializing in the development, manufacturing, and marketing of branded and
proprietary pharmaceuticals in China, today announced that the Company entered
into a share transfer agreement with Devont Asset Management Limited on
January 15^th 2013 to sell an approximately 35% equity interest in Shanghai
Celgen Bio-Pharmaceutical Co., Ltd. ("Shanghai Celgen") for a cash
consideration of RMB 302 million. Simcere indirectly acquired an approximately
35% equity interest in Shanghai Celgen in August 2009. Upon completion of this
transaction, Simcere will no longer hold any equity interest in Shanghai
Celgen. Consummation of the transaction is subject to certain closing
conditions.

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR) is a
leading pharmaceutical company specializing in the development, manufacturing,
and marketing of branded and proprietary pharmaceuticals in China. Simcere
concentrates its research and development efforts on the treatment of diseases
with high incidence and/or mortality rates and for which there is a clear
demand for more effective pharmacotherapy such as cancer, strokes,
cardiovascular disease, infectious diseases and pain. For more information
about Simcere Pharmaceutical Group, please visit www.simcere.com.

Investor and Media Contacts:

Email: ir@simcere.com

In Nanjing:                  In the United States:
Jie Liu D'Elia               Carly Westerman
Vice President               Brunswick Group LLC
Simcere Pharmaceutical Group Tel: 1-415-671-7676
Tel: 86-25-8556-6666*8857
In Beijing:                  In Hong Kong:
Yue Yu                       Joseph Lo Chi-Lun
Brunswick Group              Brunswick Group
Tel: 86-10-5960-8600         Tel: 852-3512-5000

SOURCE Simcere Pharmaceutical Group

Website: http://www.simcere.com
 
Press spacebar to pause and continue. Press esc to stop.