10 May 2000 02:37 [Source: ICIS news]
SINGAPORE (CNI)--Japanese pharmaceuticals and personal care major Sankyo Co has acquired from Osaka-based Daikin Industries that company's manufacturing operations for blood sugar measurement devices, CNI was informed Wednesday.
The devices are for diabetics. Daikin's line comprises compact, simple-to-use models. Sales are claimed to exceed 10 000 unit/year.
According to Sankyo officers, their company will not directly run the manufacturing operations. It is assigning production management to Kyoto-based Horiba Ltd, a specialist producer of engineering, medical and scientific instruments.
Sankyo also is negotiating with Bayer Medical, a Japanese affiliate of the German major, to form an alliance in marketing the Daikin devices. The alliance is expected to be formed in Q3.
Daikin sources told CNI that the devices have been produced and marketed since 1991 in collaboration with Sankyo. As Daikin is focusing on its main product lines (airconditioning systems and chemicals), and as blood sugar measurement devices are a strategic fit with Sankyo's line of medical instruments, the companies agreed to the transaction - but declined to state its value.
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