NANJING, China, Jan. 22, 2013 /PRNewswire/ -- Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, today announced that the Company entered into a share transfer agreement with Devont Asset Management Limited on January 15(th) 2013 to sell an approximately 35% equity interest in Shanghai Celgen Bio-Pharmaceutical Co., Ltd. ("Shanghai Celgen") for a cash consideration of RMB 302 million. Simcere indirectly acquired an approximately 35% equity interest in Shanghai Celgen in August 2009. Upon completion of this transaction, Simcere will no longer hold any equity interest in Shanghai Celgen. Consummation of the transaction is subject to certain closing conditions.

About Simcere Pharmaceutical Group

Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR) is a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China. Simcere concentrates its research and development efforts on the treatment of diseases with high incidence and/or mortality rates and for which there is a clear demand for more effective pharmacotherapy such as cancer, strokes, cardiovascular disease, infectious diseases and pain. For more information about Simcere Pharmaceutical Group, please visit www.simcere.com.

Investor and Media Contacts:

Email: ir@simcere.com


    In Nanjing:                            In the United States:
    Jie Liu D'Elia                         Carly Westerman
    Vice President                         Brunswick Group LLC
    Simcere Pharmaceutical Group           Tel: 1-415-671-7676
    Tel: 86-25-8556-6666*8857

    In Beijing:                            In Hong Kong:
    Yue Yu                                 Joseph Lo Chi-Lun
    Brunswick Group                        Brunswick Group
    Tel: 86-10-5960-8600                   Tel: 852-3512-5000

SOURCE Simcere Pharmaceutical Group