Monday, July 15, 2013

Mitsubishi Tanabe acquires Vaccine maker Medicago

Mitsubishi Tanabe together with Philip Morris Investments BV limited will acquire vaccine maker Medicago for CAD 1.16 per share or CAD179 million.  Post acquisition Medicago will become a joint venture  company of Mitsubishi Tanabe Pharma and Philip Morris Investments. Mitsubishi Tanabe will own 60%, while Philip Morris Investments will own 40%.

Medicago is a biological pharmaceutical company with special strengths in R&D for new vaccines using Virus Like Particle technology. Medicago has proprietory technologies for the production of VLPs inside plant cells using genetic enginering and the efficient extraction and  purification of those VLP's.

Prior to this Mitsubishi Tanabe had acquired 6% of Medicago shares in February 2012.

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