Mitsui & Co to acquire MBS, subsidiary of Mercian Corporation in Japan

TOKYO, JAPAN: Mitsui & Co Ltd has decided to acquire a 100 per cent stake in MBS Co Ltd, a wholly owned subsidiary of Mercian Corporation that will succeed Mercian’s pharmaceutical and chemical businesses by de-merger (absorption-type split).

As one of its core business area - medical and healthcare business, Mitsui has already developed a variety of businesses in both pharmaceutical and healthcare services business. Mitsui, through MBS as a core company in its pharmaceutical contract manufacturing organization CMO business, will strive to strengthen its CMO business. Mitsui will also strive to increase the corporate value of MBS by expanding sales of MBS’s leading products (anti-cancer agents) through Mitsui’s global network, strengthening and developing MBS’s manufacturing technologies by combining new technologies from other CMO companies. Moreover, Mitsui plans to expand its pharmaceutical business in China through Shenzhen Main Luck Pharmaceuticals Inc, which possesses business bases throughout China.

Mitsui plans to change the corporate name of MBS to MicroBiopharm Japan Co Ltd (provisional name) upon completion of this acquisition. Mitsui is currently analyzing the impact of this acquisition on Mitsui’s consolidated financial results in the fiscal year ending March 31, 2012.

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