Tanabe Seiyaku Explores Possible Merger with Mitsubishi Pharma

Feb 01, 2007
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Tokyo (Jan. 18)Tanabe Seiyaku Co. Ltd. (www.tanabe.co.jp/english) confirmed it has had discussions with Mitsubishi Pharma Corporation (www.m-pharma.co.jp) over a possible merger between the two companies, but that no definite decision has been made for such a deal.

“Tanabe has been discussing with Mitsubishi Pharma on a potential merger between the two companies for the purpose of expansion of business scale and reinforcement of management infrastructure to respond to the competitive environment surrounding the pharmaceutical market and survive intensifying global competition,” said Tanabe Seiyaku in a prepared statement. “However, no concrete decision has been made in this regard.”

A potential merger between Tanabe Seiyaku and Mitsubishi Pharma follows recent consolidation in the Japanese pharmaceutical industry. In 2005, Sanyko and Daiichi Pharmaceuticals merged to form Daiichi Sanyko Co. Ltd. (Tokyo, www.daiichipharm.co.jp/english), and Fujisawa Pharmaceutical Co., Ltd. and Yamanouchi Pharmaceutical Co., Ltd. merged to form Astellas Pharma Inc. (Tokyo, www.astellas.com).