Consumer China

Simcere – not immune

  • Published 20 Aug 2009

The developer of drugs for cancer and infectious diseases has been disappointing investors since late last year.

Simcere Pharmaceutical (SCR:NYSE) currently has a failing prescription. The major Chinese developer of treatments for illnesses with high incidence and mortality rates such as cancer, strokes and infectious diseases, has been disappointing investors since Q4 2008 when net income fell 33.8% from a year earlier. By the end of Q2 2009, net income had fallen 60.9% year-on-year to Rmb 37.2m ($5.4m, €3.9m, £3.3m), while revenues were down 2.7% from the same 2008 period to Rmb 436.2m.

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