November 26, 2007 -- Simcere Pharmaceutical (NYSE: SCR) extended its cancer therapeutic offerings by paying 32.6 million RMB ($4.4 million) to buy 86% of Nanjing Tung Chit Pharmaceutical Co., Ltd. (Tung Chit). Tung Chit makes and markets Jiebaisu, a first-to-market platinum-based nedaplatin injection. The acquisition adds to Simcere’s anti-cancer franchise as Simcere already markets Endu, an endostatin cancer drug with an anti-angiogenesis mechanism. Separately, Simcere released its third quarter financials, reporting a 45% increase of revenue, which was slightly below expectations. More details...
