Akzo Nobel Acquires Kanebo Pharmaceutical Business In Japan

Organon, a business unit of Akzo Nobel, is to acquire the ethical pharmaceutical business of Kanebo Ltd. (Tokyo, Japan). Kanebo's ethical pharmaceutical operations will be merged with the current operations of Organon in Japan (Nippon Organon KK) as from March 31, 1999. The locally financed asset deal will comprise research & development, production, sales and distribution. The ethical pharmaceutical business of Kanebo has currently annual sales of $85 million, which is comparable to Organon's Japanese sales.

Nippon Organon KK will in time be based in Osaka, Japan, and will predominantly focus on gynecology, psychiatry, anesthesiology, urology, cardiovascular and allergy treatments. The acquisition enables Nippon Organon KK to combine Kanebo's strength through their nationwide network with Organon's innovative research and development pipeline. The company will employ 870 people in Japan.

For more information: Eric P.D. Heres, Akzo Nobel N.V., telephone: +31-26-366-45-11.