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news.Termination to have a minimal impact on Shionogi and Sciele
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Sciele and Victory Pharma have mutually agreed to terminate their previously announced merger agreement, due to the occurrence of an unforeseen development that occurred after the agreement was signed.
The company said that the termination of this merger agreement will have a minimal impact on Shionogi, Japanese drugmaker, and it is expected to have a small impact on Sciele’s 2009 revenue and earnings guidance.
The company said that it will continue to focus on its growth and diversification strategy, which the company initiated four years ago. Sciele has completed 10 transactions since 2007. An important part of Sciele’s growth strategy is to license and acquire products, in addition to launching new products from its development pipeline.
Sciele, a Shionogi company, specializes in sales, marketing and development of branded prescription products. It is focused on the therapeutic areas of Cardiovascular, Diabetes, Women’s Health and Pediatrics.