Fujisawa/Yamanouchi Merger Will Create "Astellas Pharma"; Deal On Track For 2005
This article was originally published in The Pink Sheet Daily
Executive Summary
Astellas is based on the Latin, Greek and English words for stars and is intended to sound like Japanese expression for "to shine on tomorrow." The companies will outline Astellas business strategies and financial targets by November.
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Fujisawa and Yamanouchi will be known as Astellas Pharma upon closing of their pending merger agreement, the firms announced May 24. Astellas "expresses the idea of 'aspired stars' and 'advanced stars'" and is based on the Latin word "stella," the Greek word "aster" and the English word "stellar," the companies said. Astellas is also intended to sound like the Japanese expression for "to shine on tomorrow," the companies added. Yamanouchi and Fujisawa announced their intention to merge Feb. 24. The companies expect the $7.8 bil. deal to help expand their presence in the U.S. primary care market (1 (Also see "Yamanouchi Seeks Larger U.S. Presence Through Fujisawa Merger" - Pink Sheet, 24 Feb, 2004.)). The new name was unveiled in an announcement finalizing the terms of the merger agreement. The deal is scheduled to close April 1, 2005. The next step in the merger will be separate shareholder votes scheduled by Yamanouchi and Fujisawa for June 24. The companies plan to outline Japanese and global market business strategies and financial targets for Astellas by November. - Steele Thomas |