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Sanko Lifetech Transfers Animal Health Products Business to Novartis Animal Health.


Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Oct 19, 2006 - (JCN JCN Japan Corporate News
JCN Journal of Cognitive Neuroscience
JCN Journal of Cardiovascular Nursing
JCN Journal of Christian Nursing
JCN Job Control Number
JCN Journal of Child Neurology
JCN joint communications network (US DoD) 
) - Sankyo Sankyo means "third one" in Japanese. It may refer to:
  • Several companies, such as Sankyo Pharma and Sankyo Co., Ltd..
  • A principle in Aikido referred to as "third teaching" (which includes certain wristlocks).
 Lifetech Co., Ltd., a subsidiary of Sankyo Co., Ltd., and Novartis Novartis International AG (NYSE: NVS) is a multinational pharmaceutical company based in Basel, Switzerland that manufactures drugs such as diclofenac (Voltaren), carbamazepine (Tegretol), valsartan (Diovan), imatinib mesylate (Gleevec / Glivec), cyclosporin A (Neoral /  Animal Health K.K. today signed an agreement to transfer to Novartis Animal Health all the shares of a new wholly-owned subsidiary of Sankyo Lifetech.

The new company,established as a spin off Sankyo Lifetech's Animal Health Products business, will be a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of Novartis Animal Health. Employees drawn from Sankyo and Sankyo Lifetech will be transferred, to the new company following the date of share transfer.

Daiichi Sankyo Group has been reviewing its non-pharmaceutical businesses in order to concentrate management resources on its pharmaceutical businesses. The Company plans to make all non-pharmaceutical businesses of Daiichi Sankyo Group independent by the end of March 2007.

The effect of this share transfer on Daiichi Sankyo's business performance after March 2007 will be disclosed at a later date.

Copyright [c] 2006 Japan Corporate News Network. All rights reserved.
COPYRIGHT 2006 Japan Corporate News Network K.K.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:JCNN News Summaries
Date:Oct 19, 2006
Words:156
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