ShangPharma Corporation Issues Statement in Response to Name Confusion
SHANGHAI, May 29, 2012 /PRNewswire-Asia/ -- ShangPharma Corporation (SHP) ("ShangPharma" or the "Company"), a leading China-based pharmaceutical and biotechnology research and development outsourcing company, today issued a statement to clarify potential market confusion between the name of the Company and Shanghai Pharmaceuticals Holdings Co., Ltd. (2607.HK, 601607.SH).
"To clarify any confusion in the market, ShangPharma has no affiliation with Shanghai Pharmaceuticals Holdings Co., Ltd.," the Company stated. "While the names are similar in English, the Chinese character 'Shang' in ShangPharma is different than the character in 'Shanghai Pharmaceuticals Holdings Co., Ltd. '"
ABOUT SHANGPHARMA CORPORATION
ShangPharma Corporation is a leading China-based contract research organization providing high quality and cost-effective services for the pharmaceutical and biotechnology industry. It offers a broad range of high-quality, integrated services across the drug discovery and development process to help international and Chinese pharmaceutical and biotechnology companies discover and develop novel drug candidates efficiently. ShangPharma's services consist of discovery chemistry, discovery biology and preclinical development, pharmaceutical development and biologics services. For more information, please visit www.shangpharma.com.
For further information, please contact:
Ms. Lan Xie
VP of Finance and Investor Relations
Mr. Josh Gartner
SOURCE ShangPharma Corporation