Simcere Pharmaceutical Buys Stake in Chinese Vaccine Maker
Tue, 05/26/2009 - 5:51am
NEW YORK (AP) — Simcere Pharmaceutical Group, which makes pharmaceuticals in China, has agreed to buy a 37.5 percent stake in Chinese vaccine maker Jiangsu Yanshen Biological Technology Stock Co. for about 195.5 million yuan ($28.5 million). Once the deal closes, the company said it will be the largest shareholder in Jiangsu Yanshen. Jiangsu Yanshen's products include a flu vaccine and a human-use rabies vaccine.