Shionogi Cancels Pact To Buy Victory Pharma

Shionogi & Co., an Osaka-based major pharmaceutical company, announced that Sciele Pharma Inc., a US-based group company of Shionogi & Co. has scrapped its plan to buy Victory Pharma Inc., a privately-held specialty pharmaceutical company. According to its press release, it was due to the occurrence of an unforeseen development that occurred after the agreement was signed. Shionogi announced in May that Sciele Pharma would buy Victory Pharma for $150 million.