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Kyowa Hakko, Kirin align.

Kyowa Hakko Kogyo Co. Ltd., Japan, and Kirin Holdings Company, Limited, Japan, have entered into a strategic alliance agreement. After completing the "tender offer period" in April next year, Kirin Pharma will become a wholly-owned subsidiary of Kyowa Hakko through the "share exchange" between Kyowa Hakko and Kirin Pharma, and Kyowa Hakko will become a consolidated subsidiary of Kirin Holdings. The merge of Kyowa Hakko and Kirin Pharma will be finalized in October 2008, with Kyowa Hakko as the surviving company. The new company name will be Kyowa Hakko Kirin Co., Ltd. Integration and alliances will be promoted in the non-pharmaceutical businesses that both the Kirin Group and Kyowa Hakko Group operate. The bio-chemical business of Kyowa Hakko is planning to spin off as a subsidiary by April 2010.

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Title Annotation:INDUSTRY NEWS
Publication:Nutraceuticals World
Date:Dec 1, 2007
Words:129
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