Sawai Pharmaceutical of the late-started (generic) medicine major formally proposed business integration with the holding-company system to Kyorrin medicine manufacture Holdings (HD) of the mainstay medicine manufacture.

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Sawai Pharmaceutical of the late-started (generic) medicine major formally proposed business integration with the holding-company system to Kyorrin medicine manufacture Holdings (HD) of the mainstay medicine manufacture.

Kyorrin is a comprehensive manufacturer that handles a wide new medicine such as Kicanshizensoc, and consolidated net sales at the period on March, 2010 are 99.7 billion yen. The top line is merely 50 billion yen, and on the other hand, there is a possibility of developing into "The smallness drinks largeness" hostile corporate take-over bid (takeover bid), too and this proposal attracts the attention of industry segments and the parties concerned with market though Sawai Pharmaceutical is a major of the generic.

- A necessary capital about 130 billion yen for the Kyorrin wholly owned subsidiary making
The Kyorrin side rejects business integration , saying that "The proposal doesn't agree with knowledge and the strategy to our business environment". However, Sawai aims to stake one's survival by the pharmaceutical industry with intense exploitative competition, and to incorporate the new medicine technology of Kyorrin.
The possibility that the negotiation on both companies progresses is a low though Sawai is requested to keep sending the love call after the assertion of the rejection of Kyorrin, and to describe the reason to be going to reject the proposal by January 14, 2011 reasonable.

Aiming the top line and Kyorrin of "Largeness" Sawai of inferior "Small" is unable to move upward of the stock price of Kyorrin, and, ..cheapness.. therefore, comparatively and none other.
Shite and Sawai are 6710 yen every the Kyorrin 1407 yen in the closing price for the stock price for 27 days December, 2010, and the market capitalization queues up almost for about 105 billion yen. It steps on the premium in the stock price of the marketplace and a necessary capital for overlay Shite for making Kyorrin a wholly owned subsidiary steps on the Tomoi crack and Sawai for about 130 billion yen when it can raise the capital by the new issue of bond etc.

It goes back to have begun to move to the acquisition of Kyorrin for Sawai to exceed the height of the body in below water to the summer of 2010.
There is a reason for this.

Because the generic medicine uses the technology of the new medicine of the patent cutting, medical charges is 2-70 percent and Yasui of the new medicine.
To suppress the increasing cost of social security, Ministry of Health, Labour and Welfare is calling to increase the use proportion of the generic medicine from 20 percent present to 30 percent or more.
The technology of the new drug development cannot survive if it doesn't incorporate it.
Therefore, the major medicine manufacture manufacturer such as the first Sankyo and U.S. Pfizer Inc. is entering the generic medicine, and the exploitative competition is intensification. Therefore, Sawai that is the specialized producer of the generic medicine is not to be able to survive the technology of the new drug development in industry segments if neither the incorporation nor the wing are expanded.

The proposal that Sawai went to Kyorrin is the one of newly establishing holding company "Kyorrin and Sawai Pharmaceutical Holdings (tentative name)", and opening Sawai, Kyorin Pharmaceutical, and a related subsidiary in the subsidiary. The top line at the period on March, 2014 is insisted on that the combination effect of both companies by "Fusion of the generic and the new medicine" (president Mitsuro of Sawai) is high as about 232 billion yen and the operating income of about 12% increase are expected about 41 billion yen of about 21% increase from current both companies aggregation.

Sawai can already buy up the Kyorrin share, and is a purchase as for about 4.8% of shares outstanding of this company. It surfaces to the shareholder in 4th place following those etc. who establish it. However, the Kyorrin share has about 40 percent by the establishment Ieichi family, and shows the posture that doesn't respond in the take over bid etc.

Therefore, the perception with the difficulty has come out from the acquisition of Sawai of the majority from the remaining shareholder between parties concerned with markets, too.
The deployment afterwards is unpredictable though Sawai is assumed to be "This proposal lapses" when both companies cannot agree by the end of February in 2011.

-There is no more to it (than that)-
- Kyorrin medicine manufacture Holdings price
- Sawai Pharmaceutical
Stock price

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