Scandal ridden dairy firm Snow Brand Milk Products Co is set to start talks for the sale of its pharmaceutical products arm Daiichi Pharmaceutical Co.
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Snow Brand has been desperate to improve sales since being discovered at the centre of a mass food poisoning incident last summer, in which one consumer died. It has already linked up with firms such as Swiss giant Nestlé for new food product ventures, and this sale reflects the company’s intention to focus wholly on its food production operations.
The companies revealed that the talks would be finalised by March of next year, when they will discuss the sale of the research centre north of Tokyo, the range of Snow Brand’s patents for its medical products and the company’s US unit Snow Brand Pharmaceuticals.
A press conference on the issue is set to be held by the two companies today at Daiichi Pharmaceutical’s head office.
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By GlobalData
