Simcere Pharmaceutical Group Announces Receipt of "Going Private" Proposal

  Simcere Pharmaceutical Group Announces Receipt of "Going Private" Proposal

PR Newswire

NANJING, China, March 11, 2013

NANJING, China, March 11, 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 its Board of
Directors has received a non-binding proposal letter from Mr. Jinsheng Ren,
New Good Management Limited, Assure Ahead Investments Limited and its
affiliates (the "Buyer Group"), pursuant to which the Buyer Group proposes to
acquire all of the outstanding ordinary shares of the Company not currently
owned by the Buyer Group, for $9.56 per American Depositary Share ("ADS") or
$4.78 per ordinary shares in cash. New Good Management Limited is a British
Virgin Islands company controlled by Mr. Jinsheng Ren, Chairman of the Board
of Directors of the Company.

According to the proposal letter, which is dated March 11, 2013, the Buyer
Group will form a transaction vehicle for the purpose of pursuing the proposed
transaction, which is intended to be financed with a combination of debt and
equity capital.

The Company's Board of Directors has formed a special committee of independent
directors (the "Special Committee") consisting of Alan Au and Guoqiang Lin to
consider the proposed transaction. The Special Committee has appointed Alan Au
as its chairman. The Special Committee intends to retain advisors, including
an independent financial advisor and legal counsel, to assist it in its work.
No decisions have been made by the Special Committee with respect to the
Company's response to the proposed transaction. There can be no assurance that
any definitive offer will be made, that any agreement will be executed or that
this or any other transaction will be approved or consummated.

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               Cindy Zheng

Vice President               Brunswick Group LLC

Simcere Pharmaceutical Group Tel: 1-212-333-3810

Tel: 86-25-8556-6666*8857    
In Beijing:

Yue Yu

Brunswick Group

Tel: 86-10-5960-8600

SOURCE Simcere Pharmaceutical Group

Website: http://www.simcere.com
 
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