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news.Simcere Pharmaceutical Group, a China-based company specialising in the development, manufacturing and marketing of branded generic and proprietary pharmaceuticals, has signed an agreement to purchase 80% stake in Xiangao Investment Company. Xiangao Investment Company has 49% stake in Jilin Boda Pharmaceutical, a manufacturer of injectable stroke management medication.
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Simcere Pharma said that through an acquisition made in September 2007, it currently holds a 51% stake in Boda.
After the completion of the transaction with Xiangao, Simcere is expected to control a 90% stake in Jilin Boda Pharmaceutical Co (Boda).
Simcere manufactures and sells antibiotics, anti-cancer medication, stroke management medication and biopharmaceutical drugs such as vaccines.
Simcere concentrates its R&D 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, orthopaedics and infectious diseases.
Simcere has introduced an anti-cancer medication Endu, a first-to-market medication Sinofuan, and first-to-market generics such as Bicun and Anxin.