MediPal Holdings Corporation completed the acquisition of Sumitomo Pharma FOOD & CHEMICAL Co., LTD. from Sumitomo Pharma Co., Ltd..
March 30, 2023
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MediPal Holdings Corporation (TSE:7459) entered into a Share Purchase agreement to acquire Sumitomo Pharma FOOD & CHEMICAL Co., LTD. from Sumitomo Pharma Co., Ltd. (TSE:4506) on November 30, 2022. MediPal Holdings will acquire all the 2 million shares in Sumitomo Pharma FOOD. Sumitomo Pharma FOOD has generated net assets of ¥18,092 million, net sales of ¥33.497 million and total asset of ¥24.818 million for the fiscal year ended March 31, 2022. The execution of the Share Transfer is subject to regulatory approval under the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Act No. 54 of April 14,1947) and the satisfaction of other closing conditions. The transaction is expected to complete with the fiscal year 2022.
MediPal Holdings Corporation (TSE:7459) completed the acquisition of Sumitomo Pharma FOOD & CHEMICAL Co., LTD. from Sumitomo Pharma Co., Ltd. (TSE:4506) on March 31, 2023. Sumitomo Pharma intends to make use of the consideration received from the Share Transfer to implement measures to strengthen its business foundations and to establish growth engines.
Sumitomo Pharma Co., Ltd. (formerly Sumitomo Dainippon Pharma Co., Ltd.) specializes in development, manufacturing and marketing of pharmaceutical products. Net sales break down by family of products as follows:
- pharmaceuticals (92.9%): for cardiovascular, gastrointestinal and infectious diseases, central nervous systems disorders and allergies treatment;
- other (7.1%): veterinary drugs, food additives, industrial chemical products, etc.
Net sales are distributed geographically as follows: Japan (39.8%), the United States (50.4%), North America (0.9%) and other (8.9%).