Simcere Teams Up with Cancer Center to Develop Drugs

Aug.25.09 | About: Simcere Pharmaceutical (SCR)

Simcere Pharmaceutical Group (NYSE: SCR) and Sun Yat-Sen University Cancer Center of Guangzhou have established a strategic relationship to develop cancer drugs. In addition, the two companies will build a joint program to train personnel in advanced R&D. The company did not disclose any specifics about the nature of the cancer drug investigation, though the research at Sun Yat-Sen University Cancer Center focuses on innovative drugs.

Three of Sun Yat-Sen University’s four campuses are in Guangzhou; the fourth is in Zhuhai. Founded in 1924 by Dr. Sun Yat-Sen, the MD who was also China’s president, the university was originally known as National Kwangtung University, but it was renamed to honor Dr. Sun Yat-Sen following his death.

Simcere develops and manufactures branded generic and innovative drugs. In the cancer sector, it produces Sinofuan, a 5-FU sustained release implant, and the anti-angiogenesis drug Endu, a recombinant human endostatin injection.

Simcere currently produces and sells 45 products. It has SFDA approval to manufacture an additional 220 products, and it has 12 product candidates in development.

In other news, Simcere said forty-two of its generic drugs have been included in China's Essential Drug List, though the company is currently producing only seven of these.

Also, Simcere has filed a registration document that allows Jinsheng Ren, the company’s Chairman and CEO, to sell 17.9 million shares of the company (equivalent to 8.9 million of the listed ADSs), which represent 16% of the outstanding shares. The registration does not bind him to sell any or all of his holdings.

Disclosure: none.