Takeda Pharmaceutical and electrical goods giant Hitachi are to establish Hitachi Inspharma, a joint venture to support and develop information systems for the medical and pharmaceutical industries.
Capitalized at $1.9 million, Hitachi holds a 66% stake in the new company while Takeda Pharmaceutical holds the remaining 34%. The companies have said that Hitachi Inspharma will initially provide outsourcing services to Takeda Pharmaceutical. Details of how it will develop following this were not revealed.
The companies also revealed that upon expiration of the two-year joint venture period, Hitachi Inspharma will become a wholly owned subsidiary of Hitachi.
Hitachi Inspharma is expected to generate approximately $33.8 million in sales in fiscal 2006.