Arab Today, arab today japans sankyo acquires us pharmaceutical firm for 410m
Last Updated : GMT 21:25:08
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Arab Today, arab today

Japan's Sankyo acquires US pharmaceutical firm for $410m

Arab Today, arab today

Arab Today, arab today Japan's Sankyo acquires US pharmaceutical firm for $410m

Japanese pharmaceutical company Daiichi Sankyo
Tokyo - QNA

Japanese pharmaceutical company Daiichi Sankyo Co. announced Monday it had agreed to acquire US company Ambit Biosciences for $410 million.
The company said the move was a bid to establish its presence in the oncology field. Oncology is a branch in medicine that deals with tumors.
The Japanese company will need to spend $315 million to acquire all the stocks of Ambit Biosciences, a joint statement said. Sankyo President Joji Nakayama said in the statement that the move will ensure Sankyo will continue to provide innovative pharmaceuticals in areas that are unmet in terms of medical need.

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