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Simcere Pharmaceutical Group Sells Celgen Stake for $49 Million


1/24/2013 8:10:04 AM

by Richard Daverman, PhD

January 23, 2013 -- Simcere Pharma has sold its 35% stake in Shanghai Celgen Bio-Pharmaceutical for 302 million RMB ($48.6 million). That’s more than twice the $20.6 million Simcere paid for the shares in 2009. Celgen makes a biosimilar version of arthritis treatment etanercept. Simcere sold its shares to Devont Asset Management Limited without disclosing a reason for the sale. More details....

Stock Symbol: (NYSE: SCR)


Read at ChinaBio Today

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