To all related parties:
(English Translation)
January 11, 2017
IHI Corporation Representative: Tsugio Mitsuoka, President and Chief Operating OfficerSecurities code: 7013 Contact: Kiyoshi Baba PR/IR Manager
Phone: +81-3-6204-7030
Notice Regarding Influenza Vaccine Drug Substance Manufacturing BusinessIHI Corporation (hereinafter "IHI") established the biopharmaceutical manufacturing company UNIGEN Inc. (hereinafter "UNIGEN"), a consolidated subsidiary of UMN Pharma Inc. (hereinafter "UMN Pharma"), based on a basic agreement on a manufacturing business for drug substances for influenza vaccine concluded with UMN Pharma in January 2010 and has been advancing preparations towards drug substance manufacture for the recombinant influenza HA vaccine being jointly developed by Astellas Pharma Inc. (hereinafter "Astellas Pharma") and UMN Pharma.
However, on January 10, 2017, Astellas Pharma and UMN Pharma announced the withdrawal of their application for manufacturing and marketing approval of recombinant influenza HA vaccine. IHI regrets that this announcement has dramatically changed the premise for this business.
As a result, IHI has been obliged to acknowledge significant concerns regarding the continuation of the business, and will move swiftly to consider its response going forward.
In addition, IHI guarantees a part of the debt related to cash for manufacturing facilities and working capital of UNIGEN, and the guarantee obligation amount as of the end of December 2016 was ¥11.0 billion. IHI will appropriately assess the recoverability of the guarantee obligation in light of the application withdrawal and promptly make notification if any impact on business performance is to be expected.
Overview of UNIGEN Inc.
Company Name | UNIGEN Inc. |
Incorporated | May 18, 2010 |
Paid in Capital | ¥1,750 million |
Nature of Business | Contract manufacturing of biopharmaceuticals |
President & CEO | Junichi Kotera |
Head Office/Head Office Plant | 4-2-3, Gosyonoyumoto, Akita, Akita 010-1415, Japan |
Gifu Plant | 11 Aza Kamikasugo, Miyaji, Ikeda-cho, Ibi-gun, Gifu 503-2406, Japan |
Shareholders | UMN Pharma Inc. 260,000 shares (50.00%) |
IHI Corporation 260,000 shares (50.00%) |
IHI Corporation published this content on 23 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 January 2017 07:30:12 UTC.
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