October 20, 2021
Mitsubishi Tanabe Pharma Corporation
API Corporation

Transfer of Urso API Manufacturing Business
Mitsubishi Tanabe Pharma Corporation (MTPC, Head Office: Chuo-ku, Osaka ; President &Representative Director: Hiroaki Ueno) and API Corporation (APIC, Head Office: Chiyoda-ku,
Tokyo ; President & CEO: Hideki Kitadai) have agreed the transfer of the API manufacturingbusiness of Urso drug product marketed by MTPC to ICE Group Companies (ICE, Head Office:Reggio Emilia, Italy, CEO: Agostino Barazza).
1. Reason for the transfer
MTPC’s share of the UDCA market has remained low due to the influence of competitors, andboth MTPC and APIC had considered several options to improve the utilization rate of APIC
Iwaki Plant (Land, buildings and main manufacturing equipment are MTPC assets and APICundertakes production) which produces the drug substance Urso. Under these circumstances,MTPC, APIC and long-standing partner ICE have determined that the competitiveness of the Ursobusiness can be best maintained by entrusting operation of the APIC Iwaki Plant, which has been
producing high-quality, high-purity ursodeoxycholic acid for many years in a stable manner
worldwide, to ICE, a global company engaged across the UDCA value chain from procurementof raw materials to production of ursodeoxycholic acid, the drug substance. ICE will continue tocontract manufacture UDCA at this plant for supply to MTPC.
2. Method of the transfer
At the end of November 2021, MTPC is to establish a special purpose company. The plant assets
of MTPC and all pharmaceutical manufacturing businesses related to the manufacturing of Urso
API, including inventory, liabilities, related agreements including employment agreement andrights obligations of APIC, will be transferred to the Special Purpose Company through acompany split, and all shares of the Special Purpose Company held by MTPC will be transferredto ICE on May 2, 2022 (planned).
3. Transfer schedule
October 13, 2021 Final signing of share transfer agreement
End of November 2021

Establishment of a special purpose company

May 2, 2022

Transfer of special purpose company to ICE (planned)14. Overview of the parties and the Iwaki Plant• Mitsubishi Tanabe Pharma Corporation
Head Office:3-2-10, Dosho-machi, Chuo-ku, Osaka 541-8505, Japan
President& Representative Director: UENO HiroakiCapital:
50 billion yen
Net sales:
377.8 billion (fiscal year ended March 2021)
Business activities:
Manufacture and sales and export/import of pharmaceuticals
Number of employees:
6,728 (Consolidated) (As of March 31, 2021)• API Corporation
Head Office:President and CEO:
Capital:Sales:
Business description:
Employees:
Production bases:

1- 13 -4 Uchikanda, Chiyoda-ku, Tokyo
Hideki Kitadai
4 billion yen
17.0 billion yen (fiscal year ended March 2021)
Drug substance, drug intermediate, investigational product contract
manufacturing, Marketing of R&D outsourced products449 (As of April 1, 2021)
Iwaki Plant, Yoshitomi Office, Kurosaki Plant• APIC Iwaki Plant
Location:
Plant Manager:
Number of employees:
Production results:

1 -2 Keisei-saku, Joban Misawa, Iwaki City, Fukushima
Naruyoshi Uehara
64 (As of April 1, 2021)
62 t (2021 budget)• ICE Group S.p.A, and other group companies
Head Office:Via Sicilia, 8/10-42122Reggio Emilia–ITALYCEO:Agostino Barazza
Capital:€120k
Net sales:€250m (As of December, 2020)
Business activities:
UDCA manufacturing and sale, bile by-products manufacturing andsaleMitsubishi Tanabe Pharma Corporation
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Media contacts: TEL: +81 6 6205 5119
API Corporation
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