SIMCERE PHARMA (02096) Steps Up Buybacks Again: Spends HK$17.37 Million on Repurchases, Sending a Positive Signal for Long-Term Development

On October 9, SIMCERE PHARMA (02096) announced that it spent HK$17,369,890 to repurchase 1,598,000 shares. This is the company's fifth share buyback since September. Such high-frequency, large-scale repurchases send a clear valuation signal: the company has firm confidence in its intrinsic value and medium- to long-term development prospects. On the performance side, SIMCERE PHARMA's transformation into innovative drugs continues to deliver results. In the first half of this year, the company achieved revenue of RMB 4.58 billion, a year-on-year increase of 27.8%; revenue from the innovative drug business was RMB 3.887 billion, accounting for 84.9% of total revenue, a year-on-year increase of 34.1%. Recently, the company's innovation pipeline conversion has seen another positive development. In early September, Simcere Zaiming, SIMCERE PHARMA's oncology innovative drug company, announced that it had reached a global exclusive licensing agreement with Roche for SIM0660, securing US$75 million in upfront payment, US$1.455 billion in milestones, and tiered sales royalties of up to double digits. As of now, the SIMCERE PHARMA group has completed 6 outbound licensing deals, with a potential total transaction value exceeding US$6.1 billion.