OSAKA/TOKYO -- Japanese drugmaker Shionogi said Wednesday that it will acquire Torii Pharmaceutical and other assets from Japan Tobacco in a deal worth around 160 billion yen ($1.1 billion), highlighting the growing number of merger deals amid increasing research costs for new medicines.
Shionogi, a leading player in infectious disease drugs, will offer 6,350 yen for each Torii Pharmaceutical share, or 21% above the closing price on May 2. It aims to acquire all outstanding Torii shares in a tender offer to be launched on Thursday.
