Japan's Mitsubishi Pharma, Tanabe in merger talks - report |
|
|
|
Published
:
Wed, 17 Jan 2007 23:49
|
TOKYO (XFN-ASIA) - Mitsubishi Pharma Corp and Tanabe Seiyaku Co Ltd are in the final stages of negotiations to merge late this year, to create Japan's sixth largest drugmaker by sales, the Nikkei reported, without citing sources.Mitsubishi Pharma is a wholly-owned unit of Mitsubishi Chemical Holdings and is ranked ninth largest drugmaker here, while Tanabe is the 11th-biggest pharmaceutical firm.Under the deal, Tanabe, which is listed on the first section of the Tokyo Stock Exchange, would absorb Mitsubishi Pharma, the business daily said. Mitsubishi Chemical would then take a stake of more than 50 pct in the combined firm, it said.Mitsubishi Pharma and Tanabe Seiyaku aim to reach a basic agreement by the end of February, the report said.Mitsubishi Pharma is strong in drugs for nervous system and circulatory diseases, while Tanabe's strength lies in research, it said.(1 usd = 120.68 yen)yasuhiko.seki@xfn.com
|
|
|
|
Print this Story
Mitsubishi UFJ Securities, Daewoo Securities agree on business alliance 