Simcere Buys Manufacturing License for Statin

Simcere Pharmaceutical Group (先声药业) has reached an agreement to acquire the manufacturing license of Rosuvastatin from Tianjin Tianda Pharmaceutical Co., Ltd. Rosuvastatin, a statin drug, is marketed as Crestor by AstraZeneca as a treatment for high cholesterol. Simcere will acquire equity in Tianda to gain control of the manufacturing license, though specifics of the transaction were not disclosed. More details... Stock Symbols: (NYSE: SCR) (NYSE: AZN)