According to Fierce Biotech, Japan's Otsuka Holdings plans to go public in December in a $2.8 B IPO - the largest in history - which would top Merck's record $1.7 B IPO in 1995. Otsuka will be listed on the Tokyo Stock Exchange and is seeking funding for its R&D operations and global expansion. Otsuka spent $1.8 B on R&D in 2009 - a 12% increase.
Otsuka spends most of its R&D budget on new drug research. It previously developed the schizophrenia drug Abilify. BMS holds marketing rights to that drug in the US. See more from the WSJ and Reuters.
Posted by Bruce Lehr November 12th 2010.