Glaxo Wellcome To Take Control In Japan
Glaxo Wellcome has indicated that it will take full control of its Japanese joint venture, Nippon Glaxo, for a sum of 66 bilion yen ($595 million), which it will pay to its partner Shin Nihon Jitsugyo.
GW hopes that by taking full control in Japan it will be able to improve its performance in that market. It is not the first among pharmaceutical multinational companies to take this decision in Japan.
The relationship GW has with joint-venture partner Sumitomo is expected to continue in the short-term. This joint venture was originally formed with Wellcome before the company was acquired by Glaxo.
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