Simcere Pharma (SCR) Announces Agreement to Acquire Tianjin Tianda Pharma; To Manufacture Rosuvastatin
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Simcere Pharmaceutical Group (NYSE: SCR) today announced an agreement to acquire the manufacturing license in China of Rosuvastatin from Tianjin Tianda Pharmaceutical Co., Ltd. The acquisition of the manufacturing license will be effected through the acquisition of equity in Tianda as well as transfer of certain technologies from Tianda. Rosuvastatin was first marketed by Astrazeneca as Crestor in 2003 and is an effective statin to treat high cholesterol and related conditions.
Upon completion of the acquisition, Simcere will start manufacturing Rosuvastatin.
Upon completion of the acquisition, Simcere will start manufacturing Rosuvastatin.
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