SciClone Pharmaceuticals (SCLN) says it will be restating financial statements for fiscal Q1,...

|About: SciClone Pharmaceuticals, Inc. (SCLN)|By:, SA News Editor

SciClone Pharmaceuticals (SCLN) says it will be restating financial statements for fiscal Q1, Q2, Q3 of 2011 as well as Q2 and Q3 in 2012 to account for accounting errors within its NovaMed subsidiary in China. The restatement primarily relates to accounting errors over the timing of Pfizer product revenue recognition and the recognition of product return reserves for its Aggrastat anticoagulant drug. SCLN acquired NovaMed in April 2011. Shares -6% AH.