Simcere Pharmaceutical Group Files Annual Report on Form 20-F

NANJING, China, June 30 /PRNewswire-Asia/ -- Simcere Pharmaceutical Group (NYSE: SCR), a leading manufacturer and supplier of branded generic and innovative pharmaceuticals in China, today announced the filing of its annual report on Form 20-F for the year ended December 31, 2009 with the Securities and Exchange Commission on June 30, 2010. The annual report can be accessed on the Company's website at http://www.simcere.com under the investor relations section. The Company will provide a hard copy of its audited financial statements for the year ended December 31, 2009, free of charge, to its shareholders and ADS holders upon request.

The Company previously announced that its preliminary unaudited 2009 financial results were subject to the completion of the impairment review of goodwill and intangible assets and the purchase price allocation with respect to the Company's acquisition of Jiangsu Yanshen Biological Technology Stock Co., Ltd. ("Jiangsu Yanshen"). Management has completed the goodwill impairment analysis and the purchase price allocation and as a result has revised the Company's previously reported preliminary unaudited 2009 financial results. The revision has resulted in a decrease in net income from RMB155.9 million to RMB28.9 million (US$4.2 million), a decrease in net income attributable to the non-controlling interest from RMB36.4 million to RMB2.4 million (US$0.4 million), and a decrease in net income attributable to Simcere from RM119.5 million to RMB26.4 million (US$3.9 million). After the revision, the Company's basic and diluted earnings per American Depository Share (ADS) for the year ended December 31, 2009 were RMB0.46 (US$0.07) and RMB0.45 (US$0.07), respectively. One ADS represents two ordinary shares of the Company.

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. In recent years, Simcere has been focusing its strategy on the development of innovative pharmaceuticals and first-to-market generics, and has introduced an innovative anti-cancer medication Endu, a first-to-market medication Sinofuan, and first-to-market generics such as Bicun and Anxin. Simcere manufactures and sells antibiotics, anti-cancer medication, stroke management medication and biopharmaceutical drugs such as vaccines. 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, orthopaedics and infectious diseases. For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com .

    Investor and Media Contacts:
     Email: [email protected]

    In Nanjing:
     Frank Zhao
     Chief Financial Officer
     Simcere Pharmaceutical Group
     Tel: +86-25-8556-6666 ext 8818

    In the United States:
     Kate Tellier
     Brunswick Group
     Tel: +1-212-333-3810

    In Beijing:
     Ruirui Jiang
     Brunswick Group
     Tel: +86-10-6566-2256

    In Hong Kong:
     Joseph Lo Chi-Lun
     Brunswick Group
     Tel: +852-3512-5000

SOURCE Simcere Pharmaceutical Group

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