Japanese pharmaceuticals establish joint venture
Yamanouchi Pharmaceutical and Fujisawa Pharmaceutical today announced they have reached an agreement to merge their over-the-counter pharmaceutical businesses and to establish a new joint venture for the purpose.
Fujisawa employs over 8,000 people worldwide, 260 of them at its Kerry drug finishing plant.
Yamanouchi employs over 9,000 people worldwide, 70 of which are employed its Mulhuddart, Dublin facility.
Both companies conduct OTC businesses in Japan, while conducting pharmaceutical businesses globally.
They decided on the joint venture in order to enhance competitiveness of their respective OTC business and to secure a platform for future growth.
The new joint venture , which has not yet been named, will be headquartered in Tokyo and is expected to be established in October this year. Both companies will have a 50% stake and it is predicted that the JV will employ 200 people.
