Japan Tobacco and Torii Pharmaceuticals to Form Tie-Up in R&D of Prescription Pharmaceuticals
Japan Tobacco Inc. (JT) (TSE:2914) and Torii Pharmaceutical Co. Ltd. (Torii) (TSE:4551) announced today an agreement to tie-up their research and development of prescription pharmaceuticals. The agreement aims to enhance R&D efficiency for the JT Group as
The agreement covers the following points:
JT to integrate the Group's R&D for prescription pharmaceuticals
From October 1, 1999, the research and development of prescription pharmaceuticals within the JT Group will be concentrated at JT.
Torii researchers to be assigned to JT
Of approximately 100 members of Torii's research and development team, around 70 will be assigned to JT on October 1, 1999. The remainder will be assigned to JT from April 2000.
Torii to retain R&D role for existing products
Research and development activities for existing Torii products will basically continue to be handled by Torii.
Torii to handle Japan sales of new JT products
Sales in Japan of new prescription pharmaceuticals developed by JT will in principle be handled by Torii.