Taisho/Tanabe
This article was originally published in The Tan Sheet
Executive Summary
Japanese firms' formation of joint holding company will create third largest drug maker in Japan with combined OTC sales of roughly $1.54 bil. Decision reflects "intensifying competition in the pharmaceutical industry" and "rapid changes in the business environment," firms say Sept. 17. Agreement comes on heels of GSK's July deal with Taisho to sell Nicoderm CQ in Japan (1"The Tan Sheet" July 2, In Brief). Companies will join forces April 2002, and by next October, Taisho - Japan's top OTC producer - will absorb Rx leader Tanabe's smaller OTC business; Tanabe will integrate Taisho's Rx operations
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