Latest news with #Shionogi
07-05-2025
- Business
Shionogi to Acquire Torii Pharmaceutical
News from Japan Economy May 7, 2025 21:50 (JST) Tokyo, May 7 (Jiji Press)--Japanese drugmaker Shionogi & Co. said Wednesday that it will acquire Torii Pharmaceutical Co., a unit of Japan Tobacco Inc., for about 160 billion yen. Shionogi will aim to make Torii a fully owned subsidiary by conducting a tender offer and buying JT's stake in the firm. JT will fully withdraw from the pharmaceutical business, transferring all related operations other than Torii to Shionogi as well. Shionogi hopes that the acquisition will create synergies in treatments for skin diseases, Torii's forte, while aiming to use JT's drug discovery platform to expand sales channels. "This is an effort to evolve our strengths as a drug-discovery pharmaceutical company," Shionogi President and CEO Isao Teshirogi told a press conference in Tokyo. "It's a nearly ideal partnership." The tender offer will be conducted from Thursday to June 18, with an offer price of 6,350 yen per share, to obtain the roughly 45 pct stake in Torii held by minority shareholders for about 80 billion yen. After this is completed, JT will let go of its approximately 55 pct stake, and Shionogi will make Torii a fully owned unit in September. [Copyright The Jiji Press, Ltd.] Jiji Press
Nikkei Asia
07-05-2025
- Business
- Nikkei Asia
Japanese drugmaker Shionogi to acquire JT's pharma units in $1.1bn deal
OSAKA/TOKYO -- Japanese drugmaker Shionogi said Wednesday that it will acquire Torii Pharmaceutical and other assets from Japan Tobacco in a deal worth around 160 billion yen ($1.1 billion), highlighting the growing number of merger deals amid increasing research costs for new medicines. Shionogi, a leading player in infectious disease drugs, will offer 6,350 yen for each Torii Pharmaceutical share, or 21% above the closing price on May 2. It aims to acquire all outstanding Torii shares in a tender offer to be launched on Thursday.
Reuters
07-05-2025
- Business
- Reuters
Drugmaker Shionogi to buy Japan Tobacco's unit Torii Pharmaceutical for $1 billion
TOKYO, May 7 (Reuters) - Japanese drugmaker Shionogi (4507.T), opens new tab said on Wednesday that it will acquire Torii Pharmaceutical (4551.T), opens new tab, a subsidiary of Japan Tobacco (2914.T), opens new tab, for more than 150 billion yen ($1.05 billion). Shionogi plans to acquire 54.84% of Torii's voting rights from Japan Tobacco for 70.3 billion yen and launch an 80.7 billion yen tender offer for the company's minority shareholders at 6,350 yen per share, representing a 21% premium over Torii's previous closing price. here. Torii welcomed Shionogi's offer and will recommend shareholders tender their shares. Shares of Torii rose 6.7% to 5,580 yen by Wednesday's close, with trading briefly halted on the Tokyo Stock Exchange after the Nikkei reported the Shionogi deal in the afternoon. ($1 = 142.9700 yen)
Bloomberg
07-05-2025
- Business
- Bloomberg
Shionogi Falls on Report of $1 Billion Offer to Buy Torii Pharma
Shares of Japanese drugmaker Shionogi & Co. dropped the most in almost a month after the Nikkei newspaper reported the company will buy Torii Pharmaceutical Co. for about ¥150 billion ($1 billion). The acquisition will include buying a stake from Japan Tobacco Inc., which owns about 53% of Torii, through a tender offer and other means, the newspaper said Wednesday, without citing where it obtained the information.
Nikkei Asia
07-05-2025
- Business
- Nikkei Asia
Japan's drugmaker Shionogi to acquire JT's pharma units in $1bn deal
OSAKA/TOKYO -- Japanese pharmaceutical manufacturer Shionogi is set to buy Japan Tobacco's drug businesses, a deal that totals around 150 billion yen ($1 billion) combined, Nikkei has learned, highlighting the growing number of merger deals amid increasing research costs for new medicines. The move follows the $3.5 billion deal announcement in February that the U.S. investment fund Bain Capital agreed to buy Mitsubishi Tanabe Pharma from Mitsubishi Chemical Group.
