Mitsubishi Tanabe completes Choseido acquisition
This article was originally published in Scrip
Executive Summary
Mitsubishi Tanabe Pharmaceutical(MTP) has completed its acquisition of the small Japanese generics firm Choseido Pharmaceutical. MTP raised its ownership of the firm from 10% to 51% through the purchase of 697,000 shares, in a deal first announced earlier this year (Scrip Online, May 8th, 2008). The price was not disclosed but MTP said the impact on its results would be minor. Choseido had sales of ¥5.6 billion ($51.4 million) in the last fiscal year, and will manufacture products for sale through MTP's new generics marketing operation, Tanabe Seiyaku Hanbai.