July 10, 2009 / 6:14 AM / 10 years ago

Shionogi says scraps plan to buy Victory Pharma

TOKYO, July 10 (Reuters) - Japanese drugmaker Shionogi & Co Ltd (4507.T) said it has scrapped a plan to buy privately held Victory Pharma of the United States.

Shionogi said in May its U.S. unit Sciele Pharma would buy Victory Pharma for $150 million.

Shionogi said in a statement that the cancellation of the acquisition was due to “a situation unexpected at the time of the agreement.” (Reporting by Taiga Uranaka)

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