Simcere Enters Into Agreement With Tianda

Simcere Pharmaceutical (Simcere) has entered into an agreement to acquire the manufacturing license in China of Rosuvastatin from Tianjin Tianda Pharmaceutical (Tianda).

The company said that the acquisition of the manufacturing license is expected to be effected through the acquisition of equity in Tianda as well as transfer of certain technologies from Tianda.

Moreover, upon completion of the acquisition, Simcere is ecpected to start manufacturing Rosuvastatin. Rosuvastatin was first marketed by Astrazeneca as Crestor in 2003 and is an effective statin to treat high cholesterol and related conditions.

Jinsheng Ren, chairman and CEO of Simcere: “We are delighted to join forces with Tianda to manufacture Rosuvastatin in China.”