Shionogi Buys China’s C&O | Chemical & Engineering News
Volume 89 Issue 32 | p. 21 | Concentrates
Issue Date: August 8, 2011

Shionogi Buys China’s C&O

Department: Business
Keywords: Shionogi, pharmaceuticals, C&O

In a bid to establish a presence in China, Japanese drug firm Shionogi will pay roughly $185 million for most of C&O Pharmaceutical Technology. In addition to conducting its own internal R&D operations, C&O distributes other companies’ products in China, including Shionogi’s Flumarin antibiotics. The acquisition ties into the last phase of Shionogi’s three-part growth strategy, which began with restructuring its business, then focused on revitalizing its R&D organization, and now involves establishing a global footprint. C&O will be jointly run with Sumitomo Corp., which owns about 29% of the Chinese firm’s shares.

 
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