Japan's Fuji Pharma to buy Thai contract manufacturer for $54 million

Japanese drugmaker Fuji Pharma says it has entered into an agreement with Switzerland’s DKSH to acquire OLIC, Thailand’s the largest contract pharmaceutical manufacturer, with the aim of expanding its business outside Japan.

"Under Fuji Pharma's medium-term business plan themed “Good to Great,” the medium/long-term vision for 2015 is to grow overseas and to establish a new competitive edge as a pharmaceutical company," Hirofumi Imai, president and chief executive of Fuji Pharma, said in a press statement this week.

"To achieve these objectives, our priority has been on overseas business investment, which we will be able to realize through this transaction in order to fully begin developing Fuji Pharma's overseas business," Mr Imai added.