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Simcere Pharmaceutical Group Receives $503 Million Buyout Offer From Chairman


3/12/2013 10:01:15 AM

by Richard Daverman, PhD

March 11, 2013 -- Simcere Pharma, a Nanjing maker of branded generics and proprietary drugs, has joined the stampede of China pharmaceutical companies that may go private. The company, which posted 2012 revenues of $334 million last week, received an offer of $9.56 per ADS from its chairman and several related entities. The offer values Simcere at $503 million and represents a premium of 19% from the close on Friday. Simcere has formed a number of very interesting partnerships, whose payoffs, if they occur, remain in the future. More details....

Stock Symbol: (NYSE: SCR)


Read at ChinaBio Today


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