OSAKA (Kyodo) Takeda Pharmaceutical Co. will withdraw from business areas it had spun off into five joint ventures, company officials said Tuesday.
Japan’s leading drugmaker will sell its stakes in the five joint ventures between 2005 and 2007 to its business partners and devote gains acquired from the sales to the development of new drugs, the officials said. The total gains are likely to exceed 50 billion yen.
Takeda’s move is part of a plan to concentrate its financial and human resources in its mainstay pharmaceutical business in a bid to survive in the increasingly competitive global market, the officials said.
The five joint ventures are a food firm operated with Kirin Brewery Co., an agrochemical venture with Sumitomo Chemical Co., an animal drug firm with U.S.-based Schering-Plough Corp., a vitamin venture with German-owned BASF Japan Ltd. and a composite materials firm with Mitsui Chemicals Inc., they said.
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