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,
|SOURCE Meretek Diagnostics Group of Otsuka AmericaPharmaceutical, Inc.|
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