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Mitsubishi Tanabe Records Additional ¥8.8 Billion For Hepatitis Compensation; President and VP Take Salary Cut

This article was originally published in PharmAsia News

Executive Summary

Mitsubishi Tanabe Pharma announced April 13 a ¥20 billion compensation plan for hepatitis C victims who were infected from tainted blood products manufactured by the company. Last year, Mitsubishi Tanabe set aside ¥11.2 billion for the compensation purpose as a special loss for the third fiscal quarter; the remaining ¥8.8 billion will be recorded as a special write-off for the fourth quarter. To take responsibility for the loss, both the company's president and a vice president will have their salaries reduced by 20 percent for three months, starting in April. (Click here for more - Japanese language

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