Daiichi Sankyo to Acquire Astellas' OTC Drug Unit
Posted on: Friday, 31 March 2006, 18:00 CST
Tokyo, March 31 (Jiji Press)--Daiichi Sankyo Co. said Friday that it has signed an agreement with Astellas Pharma Inc. to acquire Zepharma Inc., the over-the-counter drug unit of Astellas, on April 13.
Daiichi Sankyo will pay 23.5 billion yen for the planned acquisition, aimed at reinforcing its product line-up and reducing costs.
Astellas will book an extraordinary profit worth 20 billion yen for fiscal 2006, ending March 2007.
Zepharma makes popular products such as gastrointestinal drug Gaster 10, cold remedies Precol and Cakonal, and dermatological product Makiron, while Daiichi Sankyo produces over-the-counter drugs such as cold remedy Lulu, Regain tonic and hair growth tonic Karoyan.
Daiichi Sankyo's wholly owned units Sankyo Co. and Daiichi Pharmaceutical Co. will separate their respective healthcare businesses on Saturday for transfer to Daiichi Sankyo Healthcare Co., which was set up in December 2005.
Daiichi Sankyo plans to integrate Zepharma and Daiichi Sankyo Healthcare on Apri 1, 2007.END
Source: Jiji Press English News Service
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