Simcere to Develop Cancer Drug from OSI Pharma in China

Simcere Pharmaceutical Group (先声药业) has acquired the China rights to a dual-mechanism cancer drug from OSI Pharmaceuticals. Simcere must first obtain regulatory approval for OSI-930, and then it will produce and market the drug in China. In the US, OSI-930 has completed a Phase I trial. Terms of the agreement were not disclosed. More details... Stock Symbols: (NYSE: SCR) (NSDQ: OSIP)