Drugmaker Shionogi to buy Japan Tobacco's unit Torii Pharmaceutical for $1 billion (updated)

Torii Pharmaceutical Co

07/05/2025 08:09

Recasts with official announcement

TOKYO, May 7 (Reuters) - Japanese drugmaker Shionogi 4507.T said on Wednesday that it will acquire Torii Pharmaceutical 4551.T, a subsidiary of Japan Tobacco 2914.T, for more than 150 billion yen ($1.05 billion).

Shionogi plans to acquire 54.84% of Torii's voting rights from Japan Tobacco for 70.3 billion yen and launch an 80.7 billion yen tender offer for the company's minority shareholders at 6,350 yen per share, representing a 21% premium over Torii's previous closing price.

Torii welcomed Shionogi's offer and will recommend shareholders tender their shares.

Shares of Torii rose 6.7% to 5,580 yen by Wednesday's close, with trading briefly halted on the Tokyo Stock Exchange after the Nikkei reported the Shionogi deal in the afternoon.

($1 = 142.9700 yen)

 (Reporting by Kantaro Komiya; Editing by Chang-Ran Kim and Sherry Jacob-Phillips)

 ((ran.kim@thomsonreuters.com))