Eisai to focus on pharma, divesting its food business to Mitsubishi

Japanese pharma major Eisai (TYO: 4523) has agreed to transfer all shares in its wholly-owned subsidiary Eisai Food & Chemical Chitaka Suzuki to Mitsubishi-Kagaku Foods, a subsidiary of Mitsubishi Chemical.

Following the transfer, of which no financial terms were revealed, Eisai will further concentrate management resources in its pharmaceutical business, and will strive to increase corporate value by speeding up innovation.

Established in April 2004, Eisai Food & Chemical is engaged in the development, marketing and export of pharmaceutical and cosmetic raw materials, food ingredients and food additives, supplements and nutrition. The food unit generated sales of 9,005 million yen (around $73 million) in the fiscal year ended March 2015.