Simcere Pharmaceutical Group, a company specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China, today announced that it has entered into an agreement to acquire an 80% stake in Xiangao Investment Company Ltd, an investment company registered in China, as its sole business, holds a 49% stake in Jilin Boda Pharmaceutical Co. Ltd. (“Boda”). After the completion of this acquisition, Simcere will control a 90% stake in Boda.
Boda is a fast-growing manufacturer of injectable stroke management medication. Simcere currently holds a 51% stake in Boda through an acquisition made in September 2007. This additional acquisition further demonstrates Simcere’s progress in the field of cardiovascularfand cerebrovascular medications.
