Nichi-Iko Seeks To Acquire Teikoku Medix To Be Largest Japanese Generic

Nichi-Iko Pharmaceutical plans to acquire Teikoku Medix, also of Japan, in a bid to become the largest maker of generic drugs in the country. The Nichi-Iko plan is to make the move as early as this summer and turn the Teikoku unit into a wholly owned subsidiary. The value of Teikoku Medix stock, owned by Teikoku Seiyaku, is estimated at about $70 million. The planned merger would combine sales worth $424 million, more than any other generic in Japan. (Click here for more - a subscription may be required