Tokyo, Sept 1, 2008 (Jiji Press) - Major Japanese drug maker Shionogi & Co. <4507> said Monday that it will acquire Sciele Pharma Inc. of the United States through a tender offer.
Shionogi will pay 31 dollars for each Sciele Pharma share in the tender offer, which will be launched within 10 days, at a total cost of 1,424 million dollars. The tender offer will last for 20 business days, Shionogi said.
Shionogi is aiming to make the Atlanta-based company a fully owned unit.
Sciele Pharma has strength in drugs for treating high cholesterol and high blood pressure, and has more than 700 medical representatives.
The company posted sales of 382 million dollars in 2007, up from the preceding year's 293 million dollars, and a net profit of 45 million dollars, unchanged.
At a press conference, Shionogi President Isao Teshirogi praised Sciele Pharma for its strong marketing capabilities.
Shionogi is aiming to take advantage of Sciele Pharma's network in boosting sales in the United States while concentrating its own business resources there on research and development activities.
Japanese drug makers are beefing up their overseas operations through business acquisitions in the face of slowing growth in the domestic market.
Earlier this year, Takeda Pharmaceutical Co. <4502> announced its plan to acquire Millennium Pharmaceuticals Inc. of the United States. Daiichi Sankyo Co. <4568> is set to buy Indian drug giant Ranbaxy Laboratories Ltd.
Copyright © 2013 JCN. All rights reserved. A division of Japan Corporate News Network KK.
 Company Profile |  Print |  Alerts
|
 |
|
Daiichi Sankyo Develops Nucleic Acid Treatment for Duchenne Muscular Dystrophy
(Feb 15, 2013)
|
|
|
Daiichi Sankyo Introduces Alzheimer's Disease Awareness Campaign
(Dec 20, 2012)
|
|
|
Daiichi Sankyo, Ranbaxy Launch Psteoporosis Medication EVISTA in Romania
(Sept 2, 2009)
|
|
|
Daiichi Sankyo Files Application for Dysuria Treatment KMD-3213 in China
(Jan 8, 2009)
|
|
|
Daiichi Sankyo and Ranbaxy Move Forward Toward The Completion of the Landmark Deal
(Oct 20, 2008)
|
|
|
Daiichi Sankyo's Tender Offer for Ranbaxy Ends in Success
(Oct 17, 2008)
|
|
|
Shionogi to Acquire U.S. Drug Maker Sciele Pharma
(Sept 1, 2008)
|
|
|
Daiichi Sankyo to Buy Indian Drug Giant Ranbaxy
(June 11, 2008)
|
|
|
Daiichi Sankyo to Acquire German Biomedical Firm
(May 21, 2008)
|
|
|
Daiichi Sankyo Launches Sales Unit in Turkey
(May 13, 2008)
|
|
|
|
|
|
|
Otsuka Launches First Skin Patch Treatment for Parkinson's Disease and Restless Legs Syndrome (Feb 22, 2013)
|
|
|
Teijin Launches Polyester Curtain Fabric with Enhanced Pollen-trapping (Feb 21, 2013)
|
|
|
Toyota Tsusho Opens Medical Clinic in Thai Plant (Feb 18, 2013)
|
|
|
Daiichi Sankyo Develops Nucleic Acid Treatment for Duchenne Muscular Dystrophy (Feb 15, 2013)
|
|
|
Dainippon Sumitomo Pharma Opens Subsidiary in Singapore (Jan 22, 2013)
|
|
|
Teijin and InCube Labs Enter Strategic Partnership in Healthcare Business (Jan 22, 2013)
|
|
|
Chugai Grants Debiopharm Group Exclusive Worldwide License for Anti-cancer Agent (Jan 9, 2013)
|
|
|
Takara Bio Initiates Phase 1 HIV Gene Therapy Clinical Trial (Jan 7, 2013)
|
|
|
Kobe University, KNC Labs and Dainippon Sumitomo to Research Anti-cancer Agent (Dec 28, 2012)
|
|
|
Daiichi Sankyo Introduces Alzheimer's Disease Awareness Campaign (Dec 20, 2012)
|
More Drugs & OTC news...
|
|
