Sciele takeover nets veteran reps
With its acquisition of Sciele Pharma, Osaka, Japan-based Shionogi & Co. will gain immediate entry into the US pharmaceutical market and inherit 720 seasoned sales reps.
Under the terms of the agreement, Shionogi will acquire Sciele for $1.1 billion. Upon approval, Sciele will become a wholly owned subsidiary and will continue operating from its Atlanta headquarters as a standalone unit. The acquisition is not expected to result in the reduction of Sciele employees.
Shionogi will acquire five products in Phase II development or later by the end of 2009. The acquisition is expected to be completed by the fourth quarter of this year.