Simcere Pharmaceutical Group ("Simcere" or the "Company") (NYSE: SCR), a leading pharmaceutical company specializing in the development, manufacturing, and marketing of branded generic and proprietary pharmaceuticals in China, today reported that its subsidiary Jiangsu Yanshen Biological Technology Stock Co., Ltd. ("Jiangsu Yanshen") has suspended production of all its products in order to conduct an internal inspection and improve its quality control systems.
After obtaining a controlling stake in Jiangsu Yanshen on October 24, 2009, Simcere discovered quality control problems relating to the production of Yanshen's human-use rabies vaccine (vero cell). On November 23, 2009, Simcere urged the board of Jiangsu Yanshen to replace its general manager and head of quality assurance and demanded the company implement a total suspension of production effective on November 30, 2009 in order to facilitate internal inspection and rectification of its quality control systems. Jiangsu Yanshen reported the suspension to the relevant regulatory authorities and is actively coordinating with them on the matter.
Mr. Jinsheng Ren, Chairman and Chief Executive Officer of Simcere Pharmaceutical Group, commented: "The safety of our patients and customers has always been our priority and we have consistently worked to implement GMP management guidelines. The voluntary suspension of production at Jiangsu Yanshen as we implement an improved quality control system is consistent with our operating procedure for quality management."
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