Mitsubishi Chemical HD to make Mitsubishi Tanabe Pharma Corporation a wholly owned subsidiary

Mitsubishi Chemical Holdings (HD) announced on the 18th that it will invest up to 491.8 billion yen to make its consolidated subsidiary Mitsubishi Tanabe Pharma Corporation a wholly owned subsidiary. Currently, MCHC holds 56.39% of Mitsubishi Tanabe Pharma's shares, and will conduct a tender offer from January 19 to January 7, 2020, aiming to make Mitsubishi Tanabe Pharma its wholly owned subsidiary. At a press conference in Tokyo on January 18, MCHC President Hitoshi Ochi said, "The world is evolving greatly and healthcare is developing at a very fast pace. Mitsubishi Tanabe Pharma will also accelerate the overseas development of promising new drug candidates by using MCHC's human resources. The company will utilize the diverse resources of a comprehensive chemical manufacturer to efficiently create new businesses and enhance the earnings structure of a core healthcare company. (November 18, 2019, Tokyo, Japan; Credit: Nikkan Kogyo Shimbun / Kyodo News Images)