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ITOCHU TO ACQUIRE GENERIC DRUGMAKER MARUKO PHARMACEUTICAL.
TOKYO, Aug 1 Asia Pulse - Itochu Corp. (TSE:8001) plans to acquire generic drugmaker Maruko Pharmaceutical Co. and use the acquisition as an entry point into the generic medicine business.
In September, Itochu will invest 1.1 billion yen (US$9.13 million) in Maruko through a private placement of new shares, gaining a 67 per cent interest in the company and placing it under its umbrella. The investment will be made via Itochu subsidiary Itochu Techno-Chemical Inc.
The acquisition represents the first time that a leading trading company in Japan has taken a drugmaker under its wing.
Maruko specializes in the ...
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Source: HighBeam Research, ITOCHU TO ACQUIRE GENERIC DRUGMAKER MARUKO PHARMACEUTICAL.