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Article: Mitsubishi Pharma, Tanabe weigh merger around October.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- January 19, 2007
CopyrightCOPYRIGHT 2007 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Jan. 19--OSAKA -- Mitsubishi Pharma Corp., a wholly owned subsidiary of Mitsubishi Chemical Holdings Corp., is discussing merging with another drugmaker, Tanabe Seiyaku Co., around October, the companies said Thursday.
The deal being contemplated is expected to catapult the merged firm into sixth place in Japan's pharmaceutical industry amid intensifying competition at home and abroad, industry observers say.
Asked about merging in October, a Mitsubishi Pharma source said, "If we try to do it soon, I think it's possible." Mitsubishi Pharma ranks ninth in the business in terms of sales and Tanabe 11th, and their combined sales are estimated at 400 billion ...