Sanofi-Aventis To Invest In Nichi-Iko

Multinational drugmaker Sanofi-Aventis is to invest JPY5bn (US$55mn) to obtain a 5% stake in Japanese drugmaker Nichi-Iko, making it the second largest shareholder in the company, after its founding family. Nichi-iko will issue about 1.5mn shares in a private placement to Sanofi-Aventis. The two companies are to form a joint venture in Japan, with Sanofi-Aventis having a 51% stake and Nichi-Iko the remainder. The two companies may also pursue the joint development of bioengineered drugs.

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