Posted on 15/02/2010 in Pharmaceutical Company Financials Boehringer Ingelheim is to purchase all outstanding shares of its Japan-based subsidiary SSP in a move to bring the smaller firm under its complete control.
It has issued a tender offer for all outstanding shares in SSP, with the completion of the deal set to make the Japanese company a wholly-owned Boehringer Ingelheim subsidiary.
Boehringer Ingelheim stated that the move will bring benefits to both firms, as SSP will be able to work more closely with its parent company on global healthcare activities.
Specifically, the larger firm intends to capitalise on SSP's expertise in customer relationships and marketing in order to enhance its own consumer healthcare business activities across the world.
Professor Andreas Barner, chairman of the board of managing directors of Boehringer Ingelheim, added: "SSP's research and development, with unique pharmaceutical development and production technologies, is expected to play an important role within Boehringer Ingelheim."
Last month, Boehringer Ingelheim revealed that it will be working together with fellow pharmaceuticals firm Priaxon to develop a range of novel cancer treatments.Other news stories from 15/02/2010
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