Daiichi Sankyo Co : Daiichi Sankyo Equity Transfer for Shanghai Xinshengyuan Pharmaceutical Group Medicine & Chemical Reagents Sales Co., Ltd. in China
04/20/2012| 02:10am US/Eastern
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For Immediate Release
Company name: DAIICHI SANKYO COMPANY, LIMITED Representative:
Joji Nakayama, President and CEO
(Code no.: 4568, First Section of Tokyo, Osaka and Nagoya
Stock Exchanges) Please address inquiries to Noriaki Ishida,
Corporate Officer, Vice President, Corporate Communications
Department Telephone: +81-3-6225-1126
http://www.daiichisankyo.com/
Daiichi Sankyo Equity Transfer for Shanghai Xinshengyuan
Pharmaceutical Group Medicine & Chemical Reagents Sales Co.,
Ltd. in China
Tokyo, Japan (April 20, 2012) - Daiichi Sankyo Company,
Limited (hereafter, Daiichi Sankyo) today announced that its
100 percent owned China subsidiary, Daiichi Sankyo (China)
Holdings, Co., Ltd. (hereafter, Daiichi Sankyo China), came
to an agreement with Shanghai Xinshengyuan Pharmaceutical
(Group) Co., Ltd. (hereafter, Xinshengyuan Group)to receive
all equity owned by Shanghai Xinshengyuan Pharmaceutical
Group Medicine & Chemical Reagents Sales Co., Ltd.
(hereafter, Xinshengyuan), the 100 percent owned subsidiary
of Xinshengyuan Group. The matter has been registered with
the appropriate Chinese authorities.
Daiichi Sankyo established Daiichi Sankyo China in November
2011 for the purpose of advancing its strategic investment in
China. With this agreement, all of the equity of Xinshengyuan
will be transferred to a wholly-owned subsidiary of Daiichi
Sankyo China.
By adding Xinshengyuan into the Group, Daiichi Sankyo will be
able to import and market Ranbaxy products to China in
addition to its own product lines. Furthermore, by adding
innovative pharmaceuticals, including other company's
products, to generic pharmaceuticals in the future, Daiichi
Sankyo aims to further grow its business in China.
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