Simcere to acquire China manufacturing license for rosuvastatin

Simcere Pharmaceutical, a leading Chinese drugmaker specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals, has announced an agreement to acquire the manufacturing license in China for the blockbuster cholesterol drug rosuvastatin from Tianjin Tianda Pharmaceutical.

This will be effected through the acquisition of equity in Tianda as well as transfer of certain technologies from Tianda. Rosuvastatin was first marketed by Anglo-Swedish drug major AstraZeneca as Crestor in 2003 and is an effective statin to treat high cholesterol and related conditions. Crestor generated third-quarter 2009 revenues of $1.15 billion for the UK-headquartered firm, up 30% on the like, year-earlier period (The Pharma Letter October 29).

Upon completion of the acquisition, the financial terms of which were not disclosed, Simcere will start manufacturing rosuvastatin, the Chinese company said. The deal marks a significant advance in Simcere's portfolio of cardiovascular drugs, the firm noted.

Jinsheng Ren, chairman and chief executive of Simcere, commented on the agreement, saying: "We are delighted to join forces with Tianda to manufacture rosuvastatin in China. Rosuvastatin has huge market potential and we believe that, with our marketing expertise, we can help more heart disease patients in China benefit from this drug."