Drug Maker Simcere Ditches Cell Therapy to Focus on Oncology

Company sells money-losing Simgene unit for $16 million, following recent deals to commercialize two new cancer drugs in China  Key Takeaways: New China licensing deals and oncology focus come amid earnings slump, though profit declines eased in second half of 2020 Despite securing big name cornerstone investors, company’s shares have tumbled 40% since its October Hong Kong IPO, following its New York de-listing six years earlier By Richard Barbarossa Generic drug maker Simcere Pharmaceutical Group Ltd. (2906.HK) has sold off a money-losing unit making cell therapy drugs and is placing…

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