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.
Business deals
Japanese drugmaker Shionogi to acquire JT's pharma units in $1.1bn deal
Tobacco company to exit drug business amid industry restructuring and high research costs
Shionogi, a leading player in infectious disease drugs, will acquire all outstanding shares of Torii Pharmaceutical, a Tokyo-listed company in which Japan Tobacco holds a 55% stake. (Source photos by Toshiki Sasazu and Nozomu Ogawa)
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