Bristol-Myers Squibb and Simcere Enter Partnership to Co-Develop and
Co-Commercialize Orencia® SC (abatacept) in China
PRINCETON, N.J. & NANJING, China -- June 14, 2013
Bristol-Myers Squibb Company (NYSE: BMY) and Simcere Pharmaceutical Group
(NYSE: SCR), a leading pharmaceutical company in China, today announced that
the companies have expanded their strategic relationship formed in 2010. The
companies have agreed to collaborate in China on the development and
commercialization of the subcutaneous (SC) formulation of Bristol-Myers
Squibb’s biologic medicine, Orencia^® (abatacept), for the treatment of
rheumatoid arthritis. Orencia SC is already on the market for the treatment of
rheumatoid arthritis in the U.S., Europe and Japan.
Under the terms of the agreement, Simcere will perform and fund all
development and regulatory activities required to obtain market approval for
Orencia SC in China, based on a pre-agreed development plan. The companies
will share responsibility for commercializing Orencia, and will share profits
and losses related to Orencia SC in China. Financial terms were not disclosed.
“Orencia SC is the third program in our R&D collaboration with Bristol-Myers
Squibb, underscoring our joint commitment to our broad strategic partnership,”
commented Mr. Hongquan Liu, the CEO of Simcere. “Combining Orencia SC with our
existing portfolio in rheumatoid arthritis treatment, we are committed to
delivering more innovative and effective medicines to Chinese patients.”
Mr. Hongquan Liu further commented, “Moving forward, we will continue to
execute on our partnering strategy and to bring in more late-stage programs
and products already approved outside of China, to complement our R&D pipeline
and strengthen our in-market portfolio.”
“We are pleased to partner with Simcere on Orencia SC, moving beyond our
companies’ original focus on early development activities to a partnership
focused on the clinical development and commercialization of one of our
currently marketed products,” said Beatrice Cazala, executive vice president,
Commercial Operations. “If successful, not only could Orencia SC bring a new
option to Chinese patients suffering from rheumatoid arthritis, but also it
could become Bristol-Myers Squibb’s first biologic medicine for the Chinese
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to
discover, develop and deliver innovative medicines that help patients prevail
over serious diseases. For more information, please visit www.bms.com or
follow us on Twitter at http://twitter.com/bmsnews.
About Simcere Pharmaceutical Group
Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leading pharmaceutical
company specializing in the development, manufacturing, and marketing of
branded generic 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 therapy, including cancer, strokes, cardiovascular diseases,
infectious diseases and pain. For more information about Simcere
Pharmaceutical Group, please visit http://www.simcere.com.
Bristol-Myers Squibb Forward Looking Statement
This press release contains “forward-looking statements” as that term is
defined in the Private Securities Litigation Reform Act of 1995, regarding the
research, development and commercialization of pharmaceutical products. Such
forward-looking statements are based on current expectations and involve
inherent risks and uncertainties, including factors that could delay, divert
or change any of them, and could cause actual outcomes and results to differ
materially from current expectations. No forward-looking statement can be
guaranteed. Among other risks, there can be no guarantee that Orencia SC will
become a commercially successful product in China. Forward-looking statements
in the press release should be evaluated together with the many uncertainties
that affect Bristol-Myers Squibb’s business, particularly those identified in
the cautionary factors discussion in Bristol-Myers Squibb’s Annual Report on
Form 10-K for the year ended December 31, 2012, its Quarterly Reports on Form
10-Q, and Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no
obligation to publicly update any forward-looking statement, whether as a
result of new information, future events, or otherwise.
Simcere Safe Harbor Statement
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified by terminology such as "anticipate," "believe,"
"estimate," "expect," "forecast," "intend," "may," "plan," "project,"
"predict," "should" and "will" and similar expressions. These forward looking
statements are based upon management's current views and expectations with
respect to future events and are not a guarantee of future performance.
Furthermore, these statements are, by their nature, subject to a number of
risks and uncertainties that could cause actual performance and results to
differ materially from those discussed in the forward-looking statements as a
result of a number of factors. Further information regarding these and other
risks is included in Simcere's filing with the U.S. Securities and Exchange
Commission at http://www.sec.gov. Simcere does not undertake any obligation to
update any forward-looking statement, except as required under applicable law.
Jennifer Fron Mauer (United States), 609-252-6579, email@example.com
Stella Ling (China), +86-21-2321-8218, firstname.lastname@example.org
John Elicker, 609-252-4611, email@example.com
Jie Liu D’Elia, Simcere (Nanjing), +86-25-8556-6666 ext. 8857
Cindy Zheng, Brunswick Group (United States), 212-333-3810
Yue Yu, Brunswick Group (Beijing), +86-10-5960-8600
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