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December 18, 2007
Torii Pharmaceutical Co., Ltd.
Minophagen Pharmaceutical Co., Ltd. |
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Torii Pharmaceutical and Minophagen Pharmaceutical to Phase Out
Basic Trade Agreement |
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It was announced today that Torii Pharmaceutical Co., Ltd. (Head Office: Tokyo, President: Norihiko Matsuo, hereinafter referred to as "Torii") and Minophagen Pharmaceutical Co., Ltd. (Head Office: Tokyo, President: Kyozo Utsunomiya, hereinafter referred to as "Minophagen") agreed to phase out their "Basic Trade Agreement" by September 30, 2008 as follows.
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| 1. |
Contents and reasons of phasing out Basic Trade Agreement |
| Based on the Basic Trade Agreement, Torii has served as a primary wholesaler of drugs manufactured and marketed by Minophagen. Since Minophagen proposed to terminate the agreement to reconstruct the sales organization for domestic and foreign markets, the two companies discussed the matter and agreed to phase out the agreement. |
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| 2. |
Schedule for phasing out Basic Trade Agreement |
Based on the present agreement, Torii will phase out the distribution of Minophagen products to exclusive distributors as follows.
Date of terminating distribution at Torii by products
| Products |
Date of Termination |
| Stronger Neo-minophagen® C Inj. 20 mL |
March 31, 2008 |
| Stronger Neo-minophagen® C Inj. 5 mL |
March 31, 2008 |
| Stronger Neo-minophagen® C P 20mL |
March 31, 2008 |
| Glycyron® Inj. No. 1 |
March 31, 2008 |
| Glycyron® Tab. |
September 30, 2008 |
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| 3. |
Future prospect |
| The decision to phase out the basic trade agreement will have no effect on the business performance of Torii in the present fiscal period (ending in March 2008) because the sales of Minophagen products will be terminated on March 31, 2008 and thereafter. For the next fiscal period and thereafter, the sales of Minophagen products will be lost, but the effect on the profit will be limited partially because of lump-sum payments. The business forecast of Torii for the next period (ending in March 2009) will be published in the brief settlement report of the period ending in March 2008. |
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