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Mitsubishi Tanabe Reports ¥9.1 Billion In Losses From Hep C Suits

This article was originally published in PharmAsia News

Executive Summary

TOKYO - Osaka, Japan-based Mitsubishi Tanabe Pharma reported May 7 ¥9.1 billion ($87.5 million) in special losses for fiscal 2007 due to pending damages suits over its tainted blood products that caused hepatitis C. The company, which was established in October 2007 through a merger between Tanabe Seiyaku Co. and Mitsubishi Pharma, said the sum has been set aside as a provision for possible payments to settle such suits. Mitsubishi Pharma was the successor to defunct blood products maker Green Cross Corp., which sold the virus-tainted blood products, Japanese Kyodo News Agency said in a report

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