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More M&A activity in China

China-based drug developer Simcere Pharmaceutical has said it will buy a 51 per cent stake in Bada Pharmaceutical for about CNY 111m (USD 14.8m) in cash to strengthen its position in the stroke management market.

China-based drug developer Simcere Pharmaceutical has said it will buy a 51 per cent stake in Bada Pharmaceutical for about CNY 111m (USD 14.8m) in cash to strengthen its position in the stroke management market.

Simcere takes the lead in the whole injectable edaravone market in China, with a neuroprotective stroke management medication with a name of Bicun. As the first of its kind in the Chinese market, Bicun occupied a top market share and strong growth rate. The total sales of Bicun increased 209.5 per cent from 2004 to 2006, and sales reached CNY 110m in Q2 FY07, an increase of 134 per cent on the same period of FY06.

The acquisition of Boda is the first one of Simcere after it launched IPO in April 2007. Simcere acquired anti-cancer drug manufacturer Endu in 2006.

Simcere expects to expand its first-to-market pipeline and explore new drug business through more strategic acquisitions.

Established in 1995, Simcere has evolved from a distributor of pharmaceutical products into a leading manufacturer and supplier of drugs in the rapidly growing Chinese pharmaceutical market. It has three Good Manufacturing Practices (GMP)-certified manufacturing bases, two nationwide sales and marketing subsidiaries, one research and development centre and employs over 1,800 people.

30th September 2008

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