Mitsubishi Tanabe Pharma has announced the transfer of its fine chemical operations to two different companies and withdrawal from the fine chemical business.
The Pharmaceutical ingredient manufacturing and sales operations will be transferred to API Corporation and food chemical operations will be transferred to Taisho Technos, effective 1 July 2012.
API is a consolidated subsidiary of Mitsubishi Chemical and Taisho Technos is a wholly owned consolidated subsidiary of Mitsui Sugar.
Mitsubishi is working to build a management foundation for the discovery and global provision of new drugs.
By reorganizing operations through the business transfer, the Mitsubishi expects to focus management resources on its pharmaceutical operations.
Source:
http://specialitychemicals.pharmaceutical-business-review.com/news/mitsubishi-to-withdraw-from-fine-chemical-business-160512
