Tokio Marine Capital Acquires Bushu Pharmaceuticals

Tokio Marine Capital has announced that it will acquire a 100% stake in Bushu Pharmaceuticals, a provider of drug manufacturing services, from Shionogi Pharmaceuticals (TSE4507). Bushu, the second largest CMO (Contract Manufacturing Organizaion) in Japan, recorded an annual operating profit of JPY 1.09 billion (USD 12.1 million) and annual sales of JPY 9.3 billion (USD 103 million) for the March 2009 period. No other financial terms were disclosed.