Will focus on drug discovery and development
Mitsubishi Tanabe Pharma (MTP) is to pull out of the fine chemicals industry and transfer all pharmaceutical ingredient manufacturing to a subsidiary.
The Japanese firm will transfer pharmaceutical ingredient manufacturing and sales operations to API Corporation in Osaka, while food chemical operations will go to Taisho Technos in Tokyo.
API is a subsidiary of Mitsubishi Chemical Corporation, whose business is centred on healthcare and fine chemicals. The firm says it aims to become a ‘creative, r&d-oriented company in the field of speciality fine chemicals’ and contribute to a ‘higher quality of life for people throughout the world’.
Taisho Technos is a subsidiary of Mitsui Sugar and aims to achieve sustainable growth while developing its core businesses of manufacturing and selling food additives, as well as preservatives and anti-fungal agents for industrial use.
Mitsubishi Tanabe Pharma says it aims to focus management resources on its pharmaceutical operations, including the ‘discovery and global provision of new drugs that respond to unmet medical needs’.
The firm hopes to achieve this by bolstering its ability to discover new drugs; focus domestic operations on new products; build a foundation for the expansion of overseas operations; and accelerate operational and structural reforms.