November 11, 2011 -- Shanghai Fosun Pharma has purchased a 6.5% stake in Simcere Pharmaceutical, paying $30.3 million to buy 3.48 million of Simcere’s ADRs in open market transactions. Fosun has a history of buying stakes in US-listed China biopharmas. In 2009-10, Fosun slowly amassed a 32% stake in Tongjitang Chinese Medicine Company, another NYSE company. Then, Fosun and Tongjitang’s CEO/Chairman took the entire company private in November of last year. More details....
Stock Symbols: (SHA: 600196) (NYSE: SCR)
