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AstraZeneca PLC (AZN) Takes Full Control Of Japanese Unit, Buys Out Sumitomo Chemical Company, Ltd. For $102 Million


3/26/2014 7:24:37 AM

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AstraZeneca has raised its bet on Japan's drug market by buying out the remaining stake held by Sumitomo Chemical in its Japanese unit AstraZeneca K.K. The British group said on Wednesday the purchase of the shares cost approximately 10 billion yen ($102 million) and reinforced its focus on Japan as a key growth platform. Japan, the world's second-largest pharmaceuticals market after the United States, is an increasingly important country for Western drugmakers.

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