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Aug. 28, 2013, 7:20 AM
- China's Simcere Pharmaceutical (SCR) has agreed to be taken private by a consortium that includes founder and Chairman Jinsheng Ren in a deal worth $495.4M.
- The buyout group, which already owns 78% of the company, is offering $9.66 per ADS, or a premium of 3% to the company's close of $9.36 yesterday. The price is also above a previous offer of $9.56. (PR)
Aug. 13, 2013, 1:33 PM
- Simcere Pharmaceutical (SCR -0.7%) slips after its Q2 earnings miss on both EPS and revenue estimates.
- Total revenue slid 3% Y/Y, negatively impacted by the government's pricing policy, government restrictions on the use of antibiotics and market competition.
- Gross margin from continuing operations decreased to 83.1%, compared to 84.5% for the same period in 2012.
Aug. 13, 2013, 7:36 AM| Comment!
Jun. 24, 2013, 7:49 AM
May. 9, 2013, 6:42 AM
Mar. 11, 2013, 12:56 PM
Mar. 11, 2013, 8:29 AMSimcere Pharmaceutical (SCR) jumps 16.2% to $9.25 after the Chinese company receives a buyout offer of $9.56/ADS from a consortium led by its chairman, Jinsheng Ren. The bid represents a premium of 19% on Simcere's Friday close of $7.96 and values the firm at $500M. The firm has appointed a committee of independent directors to analyze the offer. (PR) | Comment!
Mar. 7, 2013, 2:37 PMSimcere Pharmaceutical (SCR -0.3%) slips after reporting a Q4 loss of $0.06 per ADS, versus flat consensus estimates, primarily due to a non-cash impairment charge of as the result of a write-down of intangible assets, goodwill, and assets held for sale associated with the acquisition of Jiangsu Quanyi Biological Technology. Gross margin also fell to 81.1%, compared to 82.3%. Read more on earnings here: Earnings Call Transcript. | Comment!
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