Toshiba Medical makes bid for pharma company

Toshiba Medical Systems has entered into bidding for a Japanese pharmaceutical company, according to an article in Nikkei Asian Review.

Toshiba has made an offer for Wako Pure Chemicals Industries, a subsidiary of Takeda Pharmaceutical. Also bidding on Wako is Fujifilm Holdings and the Hitachi group, companies that compete against Toshiba in the medical imaging business.

Wako has sales of about $800 million in laboratory chemicals for testing compounds in drug development, according to the article. The publication said that Toshiba hopes to acquire not just Wako's technology but also its relationships with drug manufacturers and medical institutions as it diversifies into the medical testing field.

Toshiba made the bid in spite of its recent sale to Canon earlier this year, the article noted.

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