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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)

PFE 27.22

+2.8%

Feb 6 9:30 AM EST

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To: Anthony Wong who wrote (24)	5/26/1998 1:03:00 PM
From: Anthony Wong	of 1722

LLY - news TOKYO (Dow Jones)--Japan's Takeda Chemical Industries Ltd. (J.TKD or 4502) said Monday it is setting up a new sales subsidiary in the U.S. to sell Actos, a drug that treats diabetes. At the same time, Takeda said it has signed a memorandum with Eli Lilly & Co. (LLY) to co-promote Actos in the U.S. The new sales subsidiary, to be named Takeda Pharmaceuticals America Inc., will be a 100% subsidiary of Takeda America Holdings Inc., a fully-owned subsidiary of Takeda Chemical. Takeda Chemical said that with Eli Lilly's long experience selling diabetes drugs, it expects that Actos will quickly gain a share of the U.S. market. Takeda Chemical will also co-promote Eli Lilly's insulin products in the U.S. By expanding its operations in the U.S., Takeda Chemical said it hopes to strengthen its international position for the 21st century. In 1985 Takeda Chemical set up Tap Pharmaceuticals in the U.S. in conjunction with Abbott Laboratories (ABT) to sell TAP-144SR and AG-1749. (END) DOW JONES NEWS 05-25-98 01:23 AM

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