Otsuka Pharmaceutical Co., Ltd.
August 26, 2008
Otsuka Pharmaceutical Co., Ltd. Makes Capital Investment to Acquire Interpharma Praha, Czech Republic
Tokyo, Japan, August 26, 2008 -- Otsuka Pharmaceutical Co., Ltd. (Head Office: Tokyo, Japan; President and Representative Director: Taro Iwamoto; hereinafter, Otsuka) today announced that it has completed the purchase of all outstanding stock of Interpharma Praha, a.s. (Head Office: Prague, Czech Republic: Chief Executive Officer, Dr. Milos Sovak; hereinafter, IPP) from its parent company, Interpharma West, Inc. (Head Office: Virgin Islands, Representative: Dr. Dietlind Antretter; hereinafter, IPW) on August 22 (EST) following an agreement previously signed between Otsuka and IPW. IPP is a Czech Republic based company with strengths in research, development and manufacturing of X-ray contrast media, active pharmaceutical ingredients (APIs) and nutraceutical products originating from natural sources.
With the completion of the stock acquisition, Otsuka has established its first research, development and manufacturing facility in Eastern Europe. IPP has a portfolio of targeted compounds with concentrations in oncology, small molecule technologies and radiographic contrast media. IPP is one of few companies capable of early stage research, scale up process development, and finally commercial production in the field of radiographic contrast media.
IPP's research experience with functional ingredients which are applicable to nutraceutical products as well as pharmaceutical products will further strengthen the R&D and product development capability of Otsuka in both the pharmaceutical and nutraceutical fields.
IPP was founded in 1932 as a private pharmaceutical enterprise and nationalized in 1946. Since 1992, the year the company was re-privatized, IPP’s Chief Executive Officer, Dr. Milos Sovak, an internationally-respected authority in the field of X-ray contrast media, transformed the company into a leader in research and drug development. In addition to specialized research capabilities, IPP also possesses cutting edge production, analysis and quality control technologies. APIs are manufactured in a GMP compliant full scale manufacturing facility, and the company was ISO9001: 2000 certified in April 2007.
IPP will play a vital role in Otsuka’s global research initiatives, scale up manufacturing, and commercial production. The unique production technology and expertise of IPP will be a tremendous advantage to Otsuka. IPP will take an important role in diversifying the group's global business expansion and will serve a gateway into the growing Russian market.
Based on the corporate philosophy of ‘Otsuka - people creating new products for better health worldwide', Otsuka Pharmaceutical Co., Ltd. is dedicated to contributing to the health of people around the world.
About Interpharma Praha a.s.
|CEO||Dr. Milos Sovak|
|Head Office||Komoranska 955, Praha 12 – Modrany, Prague 143 10, Czech Republic|
|Number of Employees||Approximately 100 employees as of March 2008|
About Otsuka Pharmaceutical Co., Ltd.
Founded in 1964, Otsuka Pharmaceutical Co., Ltd. is a global healthcare company with the corporate philosophy: 'Otsuka - people creating new products for better health worldwide.' Otsuka researches, develops, manufactures and markets innovative and original products, with a focus on pharmaceutical products for the treatment of diseases and consumer products for the maintenance of everyday health. Otsuka is committed to being a corporation that creates global value, adhering to the high ethical standards required of a company involved in human health and life, maintaining a dynamic corporate culture, and working in harmony with local communities and the natural environment. The Otsuka Pharmaceutical Group comprises 106 companies and employs approximately 33,000 people in 18 countries and regions worldwide. Otsuka and its consolidated subsidiaries earned ¥928.4 billion (approx. US $9.2 billion*) in annual revenue in fiscal year ended in March 2008.
- *Exchange rate as at the end of March 2008.
Information in this news release was current as of the original release date.