TANABE, MITSUBISHI PHARMA IN POSSIBLE MERGER TALKS

In response to media reports that Japanese drugmakers Tanabe Seiyaku and Mitsubishi Pharma are considering a merger, Tanabe issued a press release today saying, "Tanabe has been discussing with Mitsubishi Pharma on a potential merger between the two companies for the purpose of expansion of business scale and reinforcement of management infrastructure to respond to the competitive environment surrounding the pharmaceutical market and survive intensifying global competition. However, no concrete decision has been made in this regard."

A Japanese news source had reported that Tanabe had made a statement about a possible merger, but the company said in its release that "this information, however, is not [an] official announcement by us."

Tanabe is a manufacturer and distributor of prescription and OTC drugs for cardiovascular, central nervous system, respiratory and gastrointestinal indications, according to the Japan Corporate News Network. Mitsubishi manufactures drugs for cardiovascular, central nervous system and metabolic indications.