Sciele Pharma, Inc, a US-based group company of Shionogi & Co, Ltd and Victory Pharma, Inc announced that Sciele and Victory Pharma, Inc have mutually agreed to terminate their previously announced merger agreement due to the occurrence of an unforeseen development that occurred after the agreement was signed.
The termination of this merger agreement between Sciele and Victory will have a minimal impact on Shionogi, and it is expected to have a small impact on Sciele's 2009 revenue and earnings guidance. Sciele will continue to focus on its growth and diversification strategy, which the company initiated three years ago. Sciele has completed 10 transactions since 2007. An important part of Sciele's growth strategy is to license and acquire products in addition to launching new products from its development pipeline.
Sciele Pharma is a pharmaceutical company specializing in sales, marketing and development of branded prescription products focused on the therapeutic areas of cardiovascular, diabetes, women's health and paediatrics.
Shionogi, headquartered in Osaka, Japan, is a major research-driven pharmaceutical company dedicated to placing the highest value on patients.
Founded in 2004, Victory Pharma, Inc is a privately-held specialty pharmaceutical company headquartered in San Diego, California that is focused on acquiring, developing and marketing products to treat pain and related conditions.