Mitsubishi Pharma Corporation Reaches a Basic Agreement to Merge with Tanabe Seiyaku Co., Ltd.
TOKYO, Feb. 2, 2007-Mitsubishi Chemical Holdings Corporation (“Mitsubishi Chemical Holdings”) (Head office: Minato-ku, Tokyo; President: Ryuichi Tomizawa) announced today that its wholly owned subsidiary, Mitsubishi Pharma Corporation (“Mitsubishi Pharma”) (Head office: Chuo-ku, Osaka; President: Takeshi Komine), and Tanabe Seiyaku Co., Ltd. (“Tanabe Seiyaku”) (Head office: Chuo-ku, Osaka; Representative Director and President, CEO: Natsuki Hayama), along with Mitsubishi Chemical Holdings have reached a basic agreement on the proposed merger between Mitsubishi Pharma and Tanabe Seiyaku, effective October 1, 2007. The Board of Directors of the three companies passed resolutions on this effect at the respective meetings held today and have signed a basic agreement concerning the merger.
Attached news release jointly issued by Mitsubishi Pharma and Tanabe Seiyaku outlines the merger plan together with its background and objectives as well as providing information on the two companies.
As the new company to be formed by the merger will become a consolidated subsidiary of Mitsubishi Chemical Holdings, we will announce our revised financial performance projection when the business prospects of the new company become available.
Significance of the merger between Mitsubishi
Pharma and Tanabe Seiyaku Mitsubishi Chemical Holdings has
positioned healthcare businesses (pharmaceuticals, diagnostics,
clinical testing, safety assessment, drug discovery support) as one
of the three business pillars in the mid-term management plan,
“KAKUSHIN Plan: Phase 2”.
Mitsubishi Chemical Holdings Group is committed to scientific
progress, advancement in medical care, and creation of innovative
products both in pharmaceutical and diagnostics areas that benefit
people’s health worldwide through Mitsubishi Pharma and other
activities in the healthcare businesses in the Group. As a first
step to realize our healthcare road map to personalized medicine
and preventive medicine, in order to answer increasing new medical
needs in society, we will strengthen our pharmaceutical business by
accelerating overseas business development and combining
pharmaceuticals and diagnostics, and will create new value in
medicine. Mitsubishi Chemical Holdings strongly believes that the
proposed merger between Mitsubishi Pharma and Tanabe Seiyaku will
accelerate our purpose of creating a distinctive global
pharmaceutical company. As the major shareholder, Mitsubishi
Chemical Holdings intends to fully support the new company and
consequently to increase our corporate value.
For further information, please contact:
Public Relations and Investor Relations Office
Mitsubishi Chemical Holdings Corporation
TEL: +81-(0)3-6414-4870
For full report, see attachment.
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