Daiichi Sankyo unit to buy out Chinese

Kyodo

Drug maker Daiichi Sankyo Co. said Friday its Chinese unit Daiichi Sankyo (China) Holdings Co. has agreed to buy out Shanghai Xinshengyuan Pharmaceutical Group Medicine & Chemical Reagents Sales Co., a marketing company, from Shanghai Xinshengyuan Pharmaceutical (Group) Co.

The acquisition will open the path for Daiichi Sankyo to import and market the products of other drugmakers, including its India-based group company Ranbaxy Laboratories Ltd., in China, it added.