Simcere buys largest stake in Jiansu Yanshen
Simcere Pharmaceutical, a manufacturer and supplier of branded and generic drugs in China, has agreed to acquire a 37.5% stake in Jiangsu Yanshen Biological Technology Stock Company from existing shareholders for a total cash consideration of 195.5 million renminbi ($28.6 million).
Located in Changzhou, Jiangsu Province, Jiangsu Yanshen is a leading China-based developer and manufacturer of vaccines. Jiangsu Yanshen's core products include an influenza vaccine and a human use rabies vaccine, which have the second and the fourth largest market shares in China respectively.
In addition, Jiangsu Yanshen has received a new medicine certificate from the Chinese State Food and Drug Administration for its freeze-dried human use rabies vaccine and has completed clinical trials of its purified hepatitis A inactivated vaccine.
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