SHENYANG, China, Feb. 20 /Xinhua-PRNewswire/ -- 3SBio Inc. (Nasdaq: SSRX) ("3SBio" or "the Company"), a leading China-based biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, today announced that Mr. Mingde Yu has been appointed as an independent director of the Company. Mr. Yu succeeds Mr. Guanjin Hu, a director of 3SBio since August 2006, who has tendered his resignation as a result of his increasing official work commitments. The appointment of Mr. Yu took effect on February 15, the effective date of Mr. Hu's resignation.
Dan Lou, Chairman of 3SBio, commented, "On behalf of the Board, I would like to welcome Mingde Yu to 3SBio. Mr. Yu brings to 3SBio a wealth of knowledge and experience gained over a long and distinguished career in the pharmaceutical industry in China. He will be a vital resource to the Board as we continue to grow the business and create shareholder value. I would also like to thank Mr. Guanjin Hu for his contributions to the Company's success, and wish him all the best in his future endeavors."
Mr. Yu, 62, has extensive experience in manufacturing and distribution management in the pharmaceutical industry in China. He has held a number of senior positions both in the government and the private sectors, including as the Chief Technology Officer and the Head of Manufacturing at both Liaoning Fuxi Pharmaceutical Co. and Fuxi Traditional Chinese Medicine Co., Bureau Chief of the Fuxi City Food & Drug Administration, Bureau Chief of the Liaoning Provincial Food & Drug Administration, Drug Department Chief of the Economic Operations Bureau of the State Economic and Trade Committee, and Vice-Bureau Chief of Economic Operations Department of the National Development Reform Committee. Mr. Yu is currently the honorary Chairman and Director of the Beijing Pharmaceutical Group and is the Vice Committee Chair for the China Pharmaceutical Enterprises Administrative Association and China Medical Entrepreneur Association. In addition, Mr. Yu holds senior consultancy roles with the China Chemical Drug Association and the National Pharmaceutical Industry & Commerce Association.
About 3SBio Inc.
3SBio Inc. is a leading, fully integrated biotechnology company focused on researching, developing, manufacturing and marketing biopharmaceutical products, primarily in China. For more information, please visit 3SBio on the web at http://www.3sbio.com .
