Globalizing Mitsubishi Tanabe
For over a decade, Japanese pharma companies have been trying to figure out how to create critical mass in the world market. Tanabe Seiyaku Co. Ltd. and Mitsubishi Pharma Corp. are the latest companies to merge in hopes of becoming worldwide players. The companies say that the next step is to reinforce their overseas development and marketing infrastructure.
According to Tanabe spokesperson Kumiko Saika, recent healthcare reform by the Japanese government has lowered drug prices and accelerated the use of generics, shrinking the domestic market and stifling the incentives to develop innovative drugs for Japan. As a result, Japanese companies have concluded that they must tap into global markets to achieve growth.