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Hokkaido Drug Wholesaler Hamada Files Bankruptcy

This article was originally published in PharmAsia News

Executive Summary

Sapporo based drug wholesaler Hamada filed for bankruptcy protection Feb. 9. According to Teikoku Databank, Hamad had ¥500 million in debt. Established in October 1952, Hamada handles a wide range of products from testing agents to vaccines. At its peak in March 2003, the company achieved ¥880 million in sales. However, with recent governmental budget cuts and reductions in subsidiaries, the company's sales dropped to ¥730 million in March 2008. Creditors have until March 13 to file a claim and the first creditor's meeting is scheduled May 14. (Click here for more - Japanese language

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