Nanjing, China, June [30], 2010 —Simcere Pharmaceutical Group (NYSE: SCR), a leading manufacturer and supplier of branded generic and innovative pharmaceuticals in China, today announced the filing of its annual report on Form 20-F for the year ended December 31, 2009 with the Securities and Exchange Commission on June [30], 2010. The annual report can be accessed on the Company's website at under the investor relations section. The Company will provide a hard copy of its audited financial statements for the year ended December 31, 2009, free of charge, to its shareholders and ADS holders upon request.

 

The Company previously announced that its preliminary unaudited 2009 financial results were subject to the completion of the impairment review of goodwill and intangible assets and the purchase price allocation with respect to the Company's acquisition of Jiangsu Yanshen Biological Technology Stock Co., Ltd. ("Jiangsu Yanshen"). Management has completed the goodwill impairment analysis and the purchase price allocation and as a result has revised the Company’s previously reported preliminary unaudited 2009 financial results.  The revision has resulted in a decrease in net income from RMB155.9 million to RMB28.9 million (US$4.2 million), a decrease in net income attributable to the non-controlling interest from RMB36.4 million to RMB2.4 million (US$0.4 million), and a decrease in net income attributable to Simcere from RM119.5 million to RMB26.4 million (US$3.9 million).  After the revision, the Company’s basic and diluted earnings per American Depository Share (ADS) for the year ended December 31, 2009 were RMB0.46 (US$0.07) and RMB0.45 (US$0.07), respectively. One ADS represents two ordinary shares of the Company.