Daito Pharmaceutical Co.,Ltd. [4577.T]
TOKYO, Apr 24 (Pulse News Wire) – Daito Pharmaceutical CO.,LTD. (4577.T) signed a basic agreement with Kyorin Pharmaceutical Co., Ltd.
And two other companies to establish a joint venture called Med Creation Corporation (tentative name). This joint venture will take over Kyorin’s generic drug business operations conducted by its subsidiary Kyorin Remedio and production facilities in Takayama and Inaba factories. Under the agreement, Med Creation Corporation, which will be partially funded by Daiichi Pharmaceutical, aims to enhance stable supply systems in the generic drug industry. The company plans to finalize the contract by September 2026 and complete the succession process by April 01, 2027.
Kyorin Remedio had sales of ¥32.92 billion, ¥31.62 billion, and ¥34.28 billion in fiscal years 2023, 2024, and 2025 respectively. The company reported net assets of ¥6.538 billion, ¥6.010 billion, and ¥5.490 billion during the same periods. The Takayama factory covers an area of 42,457 square meters and employs 37 people, while the Inaba factory spans 18,296 square meters and has 169 employees. Both facilities were established in 2024 and 1975, respectively.
Daiichi Pharmaceutical expects to disclose the impact on its long-term performance after finalizing the contract later this year.
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