Simcere Receives Settlement for Shuttered Rabies Vaccine Facility

Simcere Pharma will receive a settlement of 50 million RMB ($7.7 million) from certain former shareholders and directors of Jiangsu Quanyi Biological Technology Stock Co. In May 2009, Simcere paid 195.5 million RMB ($28.8 million) to buy a 37.5% stake in Jiangsu Quanyi. The plant was shut down in December 2009 when quality control problems were found in its rabies vaccine. It has not reopened. More details.... Stock Symbol: (NYSE: SCR)     Share this with colleagues: