Brunswick Group is counseling China's Simcere Pharmaceuticals as the New York Stock Exchange-traded cancer and heart disease drug developer weighs a plan to go private.

Reuters reports that Simcere is the latest Chinese company to make for an exit from U.S. stock markets as government probes of suspect financial reports and slumping stocks lower chances to raise U.S. money.

Simcere said March 11 it has received a $9.56-per-American Depository Share offer from a group that includes a company controlled by Simcere's chairman, Jimsheng Ren.

Brunswick handles PR for the Nanjing-based company in Beijing and New York.

Simcere has created a special independent board committee to consider the deal to go private. The committee said today that it has hired legal counsel -- Shearman & Sterling -- and is on the hunt for a financial advisor.