Japan's Taisho Pharmaceutical is spending $310 million to further assert itself as a prominent Asian drug maker. The company is buying the Asian rights for some Bristol-Myers Squibb over-the-counter pain meds, as well as BMS's 98 percent stake in Bristol-Myers Squibb Indonesia. The deal tallies at $160 million for the pain relievers, which include the Tempra and Counterpain brands, and $150 million for the Indonesian unit. Taisho is expected to use the Indonesian production facilities to expand its reach deeper into Asia.
Japan has been busy on the pharma front: Tokyo-based Astellas Pharma signed a deal last month to co-promote AstraZeneca's Symbicort Turbuhaler asthma medicine in Japan, while Hisamitsu announced in July that it would acquire specialty drug maker Noven Pharmaceuticals for $428 million.
And BMS is no stranger to the Land of the Rising Sun. The big pharma announced in March a global collaboration with Nissan Chemical Industries and Teijin Pharma for the development and commercialization of a sinus rhythm medication for atrial fibrillation patients.
- see the BMS/Nissan/Teijin release
- here are details on the Taisho deal
- read our Astellas coverage