Mitsubishi Tanabe Pharma to take 60 pct stake in Canada's Medicago
TOKYO, July 12
TOKYO, July 12 (Reuters) - Japan's Mitsubishi Tanabe Pharma Corp said on Friday that it will take a 60 percent stake in Canada's Medicago Inc in a joint purchase with a Philip Morris International Inc subsidiary.
Mitsubishi Tanabe Pharma said it expects to pay C$1.16 per Medicago share, or up to C$179 million ($172 million), in the deal.
Philip Morris Investments will take the remaining 40 percent stake in Medicago, Mitsubishi Tanabe Pharma said in a statement.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.