Nichi-Iko to acquire Sagent for $736m

Nichi-Iko Pharmaceutical, a Tokyo-based drugs company, will acquire Illinois-based Sagent Pharmaceuticals for $736 million in cash.

Nichi-Iko is the largest generic drug manufacturer in Japan by sales.

In FY2014, the company became the first Japanese generic medicine manufacturer to reach ¥100 billion ($958 million) in annual sales.

In a statement released by Sagent, it   said: “Sagent will benefit from Nichi-Iko’s portfolio of both biosimilars under development and injectable products, further enhancing its competitiveness in the US market.”

The statement made clear that no changes to Sagent’s current operations are expected.

Nichi-Iko expects that Sagent will continue to manage the company from its headquarters in Schaumburg, Illinois.

“The US market is a top priority for Nichi-Iko and we believe Sagent is an ideal partner to accelerate our international growth strategy,” said Yuchi Tamura, CEO for Nichi-Iko.

Sagent Pharmaceuticals CEO, Allan Oberman, said: “We are confident that Nichi-Iko is the ideal partner to help us push forward into our next stage of growth and solidify our position as a leading provider of affordable pharmaceuticals to the hospital and clinic market.”