Simcere Pharmaceutical Sells Equity Interest in Shanghai Celgen

Simcere Pharmaceutical Sells Equity Interest in Shanghai Celgen

By: Latest Articles from Benzinga.com

Posted on January 22, 2013 at 05:47 AM EST

Simcere Pharmaceutical Group (NYSE: SCR ), today announced that the Company entered into a share transfer agreement with Devont Asset Management Limited on January 15th 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.

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