Mitsubishi Tanabe to take full control of Bipha JV

Japanese drug major Mitsubishi Tanabe Pharma (TYO: 4508) has agreed to acquire the 49% holding (20,580 shares) held by fellow Japan based Nipro Corp in the blood product joint venture Bipha Corp, with effect on September 5, following which Nipro, which will record a 4 billion yen ($51 million) extraordinary profit from selling the shares, will cease to have any interest in the JV.

Bipha was established in November 1996 by Mitsubishi Tanabe, and in February 2001 Nipro acquired a 49% stake in the business with the aim of facilitating rapid progress and new application development in the field of recombinant human serum albumin preparations, which Bipha was developing. At that point the JV was established. Nipro has subsequently reconsidered these operations and requested the dissolution of the JV and the sales of its shares.

According to Mitsubishi Tanabe, the decision will contribute to the rapid re-start of production and sales of Medway Injection 25%, the recombinant human serum albumin preparations made by Bipha and help Japan achieve national self-sufficiency in albumin products.