Otsuka To Acquire US Company
Otsuka Pharmaceutical Co of Japan is to acquire Cambridge IsotopeLaboratories of Massachusetts through Otsuka's US subsidiary. The sum being paid for CIL is not disclosed.
Otsuka has said it hopes to apply the expertise acquired from the US company in the development of new products, and is currently seeking approval from the Japanese health authorities to produce drugs based on carbon 13. CIL produces 50% of the world's carbon 13 and is classified as an experimental drugmaker with a sales network in 23 countries. CIL's sales last year were about $18 million.
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