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Meretek Diagnostics and Otsuka America Pharmaceutical, Inc. Announce Completion of Merger


10/2/2007 8:59:22 AM

ROCKVILLE, Md., Oct. 2 /PRNewswire/-- Meretek Diagnostics, Inc. and Otsuka America Pharmaceutical, Inc. (OAPI) today announced the completion of a merger between the two companies. The merger forms a new division of OAPI called Meretek Diagnostics Group of Otsuka America Pharmaceutical, Inc.

OAPI was established in 1989 by Otsuka America, Inc. (OAI), which is wholly owned by Otsuka Pharmaceutical Co., Ltd. (OPC). Meretek Diagnostics was acquired by OAI in 2001. Both are part of the Otsuka Pharmaceutical Group of companies. With this merger, Meretek staff members will become employees of OAPI.

Hiromi Yoshikawa, Chairman and CEO of Otsuka America Pharmaceutical, Inc., said the agreement represents a tremendous opportunity.

"We are pleased to welcome the Meretek Diagnostics organization into the OAPI organization," said Yoshikawa. "This merger presents expanded opportunities for research and development as well as for commercialization of new, innovative healthcare products."

No significant change in staffing at either organization is expected as a result of the merger.

About Meretek Diagnostics Group of Otsuka America Pharmaceutical, Inc.

Meretek Diagnostics Group is a wholly owned group of Otsuka America Pharmaceutical, Inc.

Otsuka America Pharmaceutical, Inc. (OAPI) is a successful, innovative, fast-growing healthcare company that commercializes Otsuka-discovered and other product opportunities in North America, with a strong focus on and commitment to neuroscience, cardiovascular and gastrointestinal therapeutic treatments. OAPI is dedicated to improving patients' health and the quality of human life. The company is part of the Otsuka Pharmaceutical Group, which is comprised of 99 companies and approximately 31,000 people around the world. With 54 consolidated subsidiaries, Otsuka earned US $7.2 billion in consolidated annual revenues in fiscal 2006. For additional information, please visit http://www.otsuka.com.

For more information about the Meretek Diagnostics Group of Otsuka America Pharmaceutical, Inc. and its products, including Full Prescribing Information, Warnings and Limitations, visit the Meretek Website at http://www.meretek.com or the OAPI Website at http://www.otsuka.com.

CONTACT: Dan Snyders, +1-303-623-1190, ext. 230, dan@armadamedical.com,
for Meretek Diagnostics Group of Otsuka America Pharmaceutical, Inc.; or
Debra J. Kaufmann of Otsuka America Pharmaceutical, Inc., +1-240-683-3568,
debra.kaufmann@otsuka.com

Web site: http://www.meretek.com/
http://www.otsuka.com/


Read at BioSpace.com

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