Simcere Pharmaceutical Group receives acquisition proposal

Simcere Pharmaceutical Group, a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded and proprietary pharmaceuticals in China, announced that its Board of Directors has received a non-binding proposal letter from Mr. Jinsheng Ren, BVI-registered company New Good Management Limited, controlled by Mr. Jinsheng Ren, and Assure Ahead Investments Limited and its affiliates (the Buyer Group), for the acquisition of all the outstanding ordinary shares of Simcere that are not currently owned by the Buyer Group. It is proposed that the shares would be purchased for US$9.56 per American Depositary Share, or US$4.78 per ordinary share.

For the purpose of pursuing the proposed transaction, the Buyer Group will form a transaction vehicle. The transaction is planned to be financed with a combination of debt and equity capital.

The Board of Directors of Simcere Pharmaceutical Group has formed a special committee of independent directors to consider the proposed transaction.

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