Teijin Pharma Enters European Home Medical Business

Teijin Pharma agreed Dec. 19 to establish a 50-50 joint venture with Spanish pharmaceutical company Laboratorios del Dr. Esteve. The new company, Esteve Teijin Healthcare will be established through Teijin's holding company in Europe. Teijin Holdings Netherlands is acquiring Esteve's total stake in Oximeplus, a Spanish provider of home respiratory therapy services. Esteve's stake accounts for 51 percent of Oximplus's outstanding stock. ETH will start marketing medical devices such as oxygen concentrators in January 2009. (Click here for more - Japanese language