Business Services Industry
Chugai Pharmaceutical to sell over-counter drug division to Lion Corp.
Knight Ridder/Tribune Business News, July, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Jul. 30--TOKYO -- Chugai Pharmaceutical Co. said Friday it has agreed to sell its over-the-counter drug operations to health and beauty products maker Lion Corp. by the end of the year to marshal resources for its prescription drug business.
Chugai said in a joint press statement with Lion, which has its own OTC drug division, it also agreed to sell a pesticide-manufacturing subsidiary in Fukushima Prefecture to a Lion subsidiary in Chiba Prefecture.
The acquisition of Chugai's OTC operations will help boost Lion's annual OTC drug sales to more than 50 billion yen, putting Lion in third place on that basis after Taisho Pharmaceutical Co. and Takeda Pharmaceutical Co.,...
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