Kirin-Kyowa Hakko Merger Seen Speeding Drug Industry Consolidation (Japan)
This article was originally published in PharmAsia News
Kirin Holdings Co. and Kyowa Hakko Kogyo Co. recently announced plans to merge their pharmaceutical operations. This partnership is the latest in a growing group of Japanese pharmaceutical companies teaming up to stay afloat in the country's increasingly tight market. In an effort to lower healthcare costs, the Japanese government says its goal is for generic drugs to represent 30 percent of pharmaceutical sales by 2012. Because of this initiative, many Japanese companies are also attempting to expand to international markets. Setting up overseas operations can be a costly process. Several of Japan's largest drug-makers, including Astellas Pharma Inc. and Daiichi Sankyo Co. were created to satisfy their growing need for funding. As for Kirin and Kyowa, the two companies seem to be a good match because they both have the capabilities to create antibody-based treatments. These drugs offer a promising new method for fighting cancer and other diseases while decreasing the risk of side effects. (Click here for more - May Require Paid Subscription
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