Simcere Pharmaceutical Group 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 for a cash consideration of 302m RMB ($42m).
Shanghai Celgen Biopharmaceutical co, Ltd is a leading bio-similar biopharmaceuticals drugs developer and manufacture. It has received approval for selling biosimilar version of Enbrel (Etanercept) in China.
Shanghai Celgen Biopharmaceutical co, Ltd is a leading bio-similar biopharmaceuticals drugs developer and manufacture. It has received approval for selling biosimilar version of Enbrel (Etanercept) in China.
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